How are PLD 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 PLD bull call spread priced from the September 30, 2026 end-of-day chain at a 30-day expiry (ATM IV 28.50%), the computed maximum profit is $292.50 per contract and the computed maximum loss is -$207.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a PLD bull call spread?

The breakeven for the PLD bull call spread priced on this page is roughly $132.08 at expiration, derived from the September 30, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The PLD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 8.17%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

PLD ATM IV is at 28.50% with IV rank near 31.33%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

PLD Bull Call Spread Strategy

PLD (Prologis, Inc.), in the Real Estate sector, (REIT - Industrial industry), listed on NYSE.

Prologis, Inc. don't just lead the industry, they define it. The firm creates the intelligent infrastructure that powers global commerce, seamlessly connecting the digital and physical worlds. From agile supply chains to clean energy solutions, their ecosystems help your business move faster, operate smarter and grow sustainably. With unmatched scale, innovation and expertise, Prologis is a category of one–not just shaping the future of logistics but building what comes next. Prologis, Inc. was established in 1983 and is incorporated in Maryland.

PLD (Prologis, Inc.) trades in the Real Estate sector, specifically REIT - Industrial, with a market capitalization of approximately $121.19B, a trailing P/E of 28.80, a beta of 1.32 versus the broader market, a 52-week range of 111.03-153.35, average daily share volume of 4.0M, a public-listing history dating back to 1997, approximately 3K full-time employees. These structural characteristics shape how PLD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.32 indicates PLD has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. PLD pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a bull call spread on PLD?

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.

PLD snapshot

As of September 30, 2026, spot at $130.17, ATM IV 28.50%, IV rank 31.33%, expected move 8.17%. The bull call spread on PLD below is built from the September 30, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 16-day expiry.

Why this bull call spread structure on PLD specifically: PLD IV at 28.50% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 8.17% (roughly $10.64 on the underlying). The 16-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PLD expiries trade a higher absolute premium for lower per-day decay. Position sizing on PLD should anchor to the underlying notional of $130.17 per share and to the trader's directional view on PLD stock.

PLD bull call spread setup

The PLD bull call spread below is built from the September 30, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With PLD at $130.17 on that close, the first option leg uses a $130.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PLD chain at a 16-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 PLD shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$130.00	$3.40
Sell 1	Call	$135.00	$1.33

PLD bull call spread risk and reward

Net Premium / Debit: -$207.50
Max Profit (per contract): $292.50
Max Loss (per contract): -$207.50
Breakeven(s): $132.08
Risk / Reward Ratio: 1.410

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.

PLD bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on PLD. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$207.50
$28.79	-77.9%	-$207.50
$57.57	-55.8%	-$207.50
$86.35	-33.7%	-$207.50
$115.13	-11.6%	-$207.50
$143.91	+10.6%	+$292.50
$172.69	+32.7%	+$292.50
$201.47	+54.8%	+$292.50
$230.25	+76.9%	+$292.50
$259.03	+99.0%	+$292.50

When traders use bull call spread on PLD

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

PLD thesis for this bull call spread

The market-implied 1-standard-deviation range for PLD extends from approximately $119.53 on the downside to $140.81 on the upside. A PLD bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on PLD, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current PLD IV rank near 31.33% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on PLD should anchor more to the directional view and the expected-move geometry. As a Real Estate name, PLD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PLD-specific events.

PLD 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. PLD positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PLD alongside the broader basket even when PLD-specific fundamentals are unchanged. Long-premium structures like a bull call spread on PLD 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 PLD chain quotes before placing a trade.

Frequently asked questions

What is a bull call spread on PLD?: A bull call spread on PLD is the bull call spread strategy applied to PLD (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 PLD stock at $130.17 on the September 30, 2026 close, the strikes shown on this page are snapped to the nearest listed PLD chain strike and the premiums come straight from that session's bid/ask midpoint.
How are PLD 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 PLD bull call spread priced from the September 30, 2026 end-of-day chain at a 30-day expiry (ATM IV 28.50%), the computed maximum profit is $292.50 per contract and the computed maximum loss is -$207.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a PLD bull call spread?: The breakeven for the PLD bull call spread priced on this page is roughly $132.08 at expiration, derived from the September 30, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The PLD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 8.17%; 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 PLD?: Bull call spreads on PLD reduce the cost of a bullish PLD 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 PLD implied volatility affect this bull call spread?: PLD ATM IV is at 28.50% with IV rank near 31.33%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.