How are QXO 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 QXO bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 64.20%), the computed maximum profit is $45.00 per contract and the computed maximum loss is -$55.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a QXO bull call spread?

The breakeven for the QXO bull call spread priced on this page is roughly $18.05 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 QXO market-implied 1-standard-deviation expected move is approximately 18.41%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

QXO ATM IV is at 64.20% with IV rank near 86.41%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

QXO Bull Call Spread Strategy

QXO (QXO, Inc.), in the Industrials sector, (Industrial - Distribution industry), listed on NYSE.

QXO, Inc. is a publicly traded distributor of roofing, waterproofing and complementary building products in the United States. It plans to become tech-enabled in the building products distribution industry and generate outsized value for shareholders. The company was founded on October 3, 2002, and is headquartered in Greenwich, CT.

QXO (QXO, Inc.) trades in the Industrials sector, specifically Industrial - Distribution, with a market capitalization of approximately $12.90B, a beta of 2.20 versus the broader market, a 52-week range of 14.75-27.61, average daily share volume of 16.4M, a public-listing history dating back to 2012, approximately 8K full-time employees. These structural characteristics shape how QXO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.20 indicates QXO has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. QXO 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 QXO?

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 QXO snapshot

As of June 29, 2026, spot at $17.70, ATM IV 64.20%, IV rank 86.41%, expected move 18.41%. The bull call spread on QXO 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 32-day expiry.

Why this bull call spread structure on QXO specifically: QXO IV at 64.20% is rich versus its 1-year range, which makes a premium-buying QXO bull call spread relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 18.41% (roughly $3.26 on the underlying). The 32-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated QXO expiries trade a higher absolute premium for lower per-day decay. Position sizing on QXO should anchor to the underlying notional of $17.70 per share and to the trader's directional view on QXO stock.

QXO bull call spread setup

The QXO 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 QXO near $17.70, the first option leg uses a $17.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed QXO chain at a 32-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 QXO shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$17.50	$1.48
Sell 1	Call	$18.50	$0.93

QXO bull call spread risk and reward

Net Premium / Debit: -$55.00
Max Profit (per contract): $45.00
Max Loss (per contract): -$55.00
Breakeven(s): $18.05
Risk / Reward Ratio: 0.818

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.

QXO bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on QXO. 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	-99.9%	-$55.00
$3.92	-77.8%	-$55.00
$7.83	-55.7%	-$55.00
$11.75	-33.6%	-$55.00
$15.66	-11.5%	-$55.00
$19.57	+10.6%	+$45.00
$23.48	+32.7%	+$45.00
$27.40	+54.8%	+$45.00
$31.31	+76.9%	+$45.00
$35.22	+99.0%	+$45.00

When traders use bull call spread on QXO

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

QXO thesis for this bull call spread

The market-implied 1-standard-deviation range for QXO extends from approximately $14.44 on the downside to $20.96 on the upside. A QXO bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on QXO, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current QXO IV rank near 86.41% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on QXO at 64.20%. As a Industrials name, QXO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to QXO-specific events.

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

Frequently asked questions

What is a bull call spread on QXO?: A bull call spread on QXO is the bull call spread strategy applied to QXO (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 QXO stock trading near $17.70, the strikes shown on this page are snapped to the nearest listed QXO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are QXO 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 QXO bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 64.20%), the computed maximum profit is $45.00 per contract and the computed maximum loss is -$55.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a QXO bull call spread?: The breakeven for the QXO bull call spread priced on this page is roughly $18.05 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 QXO market-implied 1-standard-deviation expected move is approximately 18.41%; 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 QXO?: Bull call spreads on QXO reduce the cost of a bullish QXO 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 QXO implied volatility affect this bull call spread?: QXO ATM IV is at 64.20% with IV rank near 86.41%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.