NAGE Bull Call Spread Strategy
NAGE (Niagen Bioscience Inc), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Niagen Bioscience Inc is a bioscience company dedicated to healthy aging. The Company leads research on nicotinamide adenine dinucleotide.
NAGE (Niagen Bioscience Inc) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $299.5M, a trailing P/E of 16.12, a beta of 2.17 versus the broader market, a 52-week range of 3.71-14.69, average daily share volume of 1.2M, a public-listing history dating back to 2015, approximately 104 full-time employees. These structural characteristics shape how NAGE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.17 indicates NAGE has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bull call spread on NAGE?
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 NAGE snapshot
As of May 15, 2026, spot at $3.65, ATM IV 113.30%, IV rank 19.49%, expected move 32.48%. The bull call spread on NAGE 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 NAGE specifically: NAGE IV at 113.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a NAGE bull call spread, with a market-implied 1-standard-deviation move of approximately 32.48% (roughly $1.19 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 NAGE expiries trade a higher absolute premium for lower per-day decay. Position sizing on NAGE should anchor to the underlying notional of $3.65 per share and to the trader's directional view on NAGE stock.
NAGE bull call spread setup
The NAGE 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 NAGE near $3.65, the first option leg uses a $3.65 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NAGE 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 NAGE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $3.65 | N/A |
| Sell 1 | Call | $3.83 | N/A |
NAGE bull call spread risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
NAGE bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on NAGE. 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.
When traders use bull call spread on NAGE
Bull call spreads on NAGE reduce the cost of a bullish NAGE stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
NAGE thesis for this bull call spread
The market-implied 1-standard-deviation range for NAGE extends from approximately $2.46 on the downside to $4.84 on the upside. A NAGE bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on NAGE, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current NAGE IV rank near 19.49% 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 NAGE at 113.30%. As a Healthcare name, NAGE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NAGE-specific events.
NAGE 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. NAGE positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NAGE alongside the broader basket even when NAGE-specific fundamentals are unchanged. Long-premium structures like a bull call spread on NAGE 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 NAGE chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on NAGE?
- A bull call spread on NAGE is the bull call spread strategy applied to NAGE (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 NAGE stock trading near $3.65, the strikes shown on this page are snapped to the nearest listed NAGE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NAGE 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 NAGE bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 113.30%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a NAGE bull call spread?
- The breakeven for the NAGE bull call spread priced on this page is no defined breakeven on the modeled curve 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 NAGE market-implied 1-standard-deviation expected move is approximately 32.48%; 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 NAGE?
- Bull call spreads on NAGE reduce the cost of a bullish NAGE 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 NAGE implied volatility affect this bull call spread?
- NAGE ATM IV is at 113.30% with IV rank near 19.49%, 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.