MNDY Bull Call Spread Strategy
MNDY (monday.com Ltd.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
monday.com Ltd., along with its affiliated entities, designs and provides software solutions for a global market, spanning the United States, Europe, the Middle East, Africa, and other international regions. Its flagship offering is Work OS, an intuitive cloud-native visual work operating system constructed from configurable modules. This platform empowers users to assemble bespoke software applications and effective work management tools. The company further supplies dedicated product solutions catering to various functions, including marketing, customer relationship management (CRM), project coordination, and software engineering. Additionally, monday.com delivers comprehensive business development, presales, and customer support services. Its client base is broad, encompassing diverse organizations, educational and governmental institutions, and specific business divisions within larger enterprises.
MNDY (monday.com Ltd.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $3.76B, a trailing P/E of 29.38, a beta of 1.23 versus the broader market, a 52-week range of 57.5-316.98, average daily share volume of 1.8M, a public-listing history dating back to 2021, approximately 3K full-time employees. These structural characteristics shape how MNDY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.23 places MNDY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a bull call spread on MNDY?
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 MNDY snapshot
As of June 29, 2026, spot at $73.91, ATM IV 62.80%, IV rank 18.34%, expected move 18.00%. The bull call spread on MNDY 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 18-day expiry.
Why this bull call spread structure on MNDY specifically: MNDY IV at 62.80% is on the cheap side of its 1-year range, which favors premium-buying structures like a MNDY bull call spread, with a market-implied 1-standard-deviation move of approximately 18.00% (roughly $13.31 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MNDY expiries trade a higher absolute premium for lower per-day decay. Position sizing on MNDY should anchor to the underlying notional of $73.91 per share and to the trader's directional view on MNDY stock.
MNDY bull call spread setup
The MNDY 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 MNDY near $73.91, the first option leg uses a $75.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MNDY chain at a 18-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 MNDY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $75.00 | $3.90 |
| Sell 1 | Call | $80.00 | $2.05 |
MNDY bull call spread risk and reward
- Net Premium / Debit
- -$185.00
- Max Profit (per contract)
- $315.00
- Max Loss (per contract)
- -$185.00
- Breakeven(s)
- $76.85
- Risk / Reward Ratio
- 1.703
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.
MNDY bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on MNDY. 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% | -$185.00 |
| $16.35 | -77.9% | -$185.00 |
| $32.69 | -55.8% | -$185.00 |
| $49.03 | -33.7% | -$185.00 |
| $65.37 | -11.6% | -$185.00 |
| $81.71 | +10.6% | +$315.00 |
| $98.05 | +32.7% | +$315.00 |
| $114.40 | +54.8% | +$315.00 |
| $130.74 | +76.9% | +$315.00 |
| $147.08 | +99.0% | +$315.00 |
When traders use bull call spread on MNDY
Bull call spreads on MNDY reduce the cost of a bullish MNDY stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
MNDY thesis for this bull call spread
The market-implied 1-standard-deviation range for MNDY extends from approximately $60.60 on the downside to $87.22 on the upside. A MNDY bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on MNDY, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current MNDY IV rank near 18.34% 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 MNDY at 62.80%. As a Technology name, MNDY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MNDY-specific events.
MNDY 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. MNDY positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MNDY alongside the broader basket even when MNDY-specific fundamentals are unchanged. Long-premium structures like a bull call spread on MNDY 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 MNDY chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on MNDY?
- A bull call spread on MNDY is the bull call spread strategy applied to MNDY (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 MNDY stock trading near $73.91, the strikes shown on this page are snapped to the nearest listed MNDY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MNDY 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 MNDY bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 62.80%), the computed maximum profit is $315.00 per contract and the computed maximum loss is -$185.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MNDY bull call spread?
- The breakeven for the MNDY bull call spread priced on this page is roughly $76.85 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 MNDY market-implied 1-standard-deviation expected move is approximately 18.00%; 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 MNDY?
- Bull call spreads on MNDY reduce the cost of a bullish MNDY 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 MNDY implied volatility affect this bull call spread?
- MNDY ATM IV is at 62.80% with IV rank near 18.34%, 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.