How are LIVN bull call spread max profit and max loss calculated?

Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit. For the LIVN bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 32.90%), the computed maximum profit is $177.50 per contract and the computed maximum loss is -$72.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a LIVN bull call spread?

The breakeven for the LIVN bull call spread priced on this page is roughly $73.23 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current LIVN market-implied 1-standard-deviation expected move is approximately 9.43%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current LIVN implied volatility affect this bull call spread?

LIVN ATM IV is at 32.90% with IV rank near 17.35%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

LIVN Bull Call Spread Strategy

LIVN (LivaNova PLC), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.

LivaNova PLC, a medical device company, designs, develops, manufactures, and sells therapeutic solutions worldwide. It operates through three segments: Cardiopulmonary, Neuromodulation, and Advanced Circulatory Support. The Cardiopulmonary segment develops, produces, and sells cardiopulmonary products, including oxygenators, heart-lung machines, autotransfusion systems, perfusion tubing systems, cannulae, connect, and other related products. The Neuromodulation segment designs, develops, and markets VNS Therapy System, an implantable device that delivers vagus nerve stimulation (VNS) therapy for the treatment of drug-resistant epilepsy, difficult-to-treat depression, and obstructive sleep apnea. It is also involved in the development and clinical testing of the VITARIA System for treating heart failure through VNS. The Advanced Circulatory Support segment develops, produces, and sells temporary life support products, such as cardiopulmonary and respiratory support solutions.

LIVN (LivaNova PLC) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $3.98B, a trailing P/E of 36.98, a beta of 0.82 versus the broader market, a 52-week range of 41.015-72.78, average daily share volume of 916K, a public-listing history dating back to 2015, approximately 3K full-time employees. These structural characteristics shape how LIVN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.82 places LIVN roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 36.98 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.

What is a bull call spread on LIVN?

A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width.

Current LIVN snapshot

As of May 14, 2026, spot at $72.30, ATM IV 32.90%, IV rank 17.35%, expected move 9.43%. The bull call spread on LIVN below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.

Why this bull call spread structure on LIVN specifically: LIVN IV at 32.90% is on the cheap side of its 1-year range, which favors premium-buying structures like a LIVN bull call spread, with a market-implied 1-standard-deviation move of approximately 9.43% (roughly $6.82 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated LIVN expiries trade a higher absolute premium for lower per-day decay. Position sizing on LIVN should anchor to the underlying notional of $72.30 per share and to the trader's directional view on LIVN stock.

LIVN bull call spread setup

The LIVN bull call spread below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With LIVN near $72.30, the first option leg uses a $72.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LIVN chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 LIVN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$72.50	$2.10
Sell 1	Call	$75.00	$1.38

LIVN bull call spread risk and reward

Net Premium / Debit: -$72.50
Max Profit (per contract): $177.50
Max Loss (per contract): -$72.50
Breakeven(s): $73.23
Risk / Reward Ratio: 2.448

Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit.

LIVN bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on LIVN. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$72.50
$15.99	-77.9%	-$72.50
$31.98	-55.8%	-$72.50
$47.96	-33.7%	-$72.50
$63.95	-11.6%	-$72.50
$79.93	+10.6%	+$177.50
$95.92	+32.7%	+$177.50
$111.90	+54.8%	+$177.50
$127.89	+76.9%	+$177.50
$143.87	+99.0%	+$177.50

When traders use bull call spread on LIVN

Bull call spreads on LIVN reduce the cost of a bullish LIVN stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.

LIVN thesis for this bull call spread

The market-implied 1-standard-deviation range for LIVN extends from approximately $65.48 on the downside to $79.12 on the upside. A LIVN bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on LIVN, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current LIVN IV rank near 17.35% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on LIVN at 32.90%. As a Healthcare name, LIVN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LIVN-specific events.

LIVN bull call spread positions are structurally moderately bullish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. LIVN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LIVN alongside the broader basket even when LIVN-specific fundamentals are unchanged. Long-premium structures like a bull call spread on LIVN are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current LIVN chain quotes before placing a trade.

Frequently asked questions

What is a bull call spread on LIVN?: A bull call spread on LIVN is the bull call spread strategy applied to LIVN (stock). The strategy is structurally moderately bullish: A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width. With LIVN stock trading near $72.30, the strikes shown on this page are snapped to the nearest listed LIVN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are LIVN bull call spread max profit and max loss calculated?: Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit. For the LIVN bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 32.90%), the computed maximum profit is $177.50 per contract and the computed maximum loss is -$72.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a LIVN bull call spread?: The breakeven for the LIVN bull call spread priced on this page is roughly $73.23 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current LIVN market-implied 1-standard-deviation expected move is approximately 9.43%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a bull call spread on LIVN?: Bull call spreads on LIVN reduce the cost of a bullish LIVN stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
How does current LIVN implied volatility affect this bull call spread?: LIVN ATM IV is at 32.90% with IV rank near 17.35%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.