SSTI Bull Call Spread Strategy
SSTI (SoundThinking, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
SoundThinking, Inc., a public safety technology company, provides data-driven solutions and strategic advisory services for law enforcement, security teams, and civic leadership. Its SafetySmart platform that includes data-driven tools comprising ShotSpotter, an outdoor gunshot detection, location, and alerting system; CrimeTracer, an agency-wide crime data and intelligence platform that enables investigators, analysts, patrol officers and command staff to search through criminal justice records from across jurisdictions, leverage dashboards, and AI-assisted tools to generate tactical leads and make intelligent connections to solve cases; CaseBuilder, a one-stop investigative case management system for tracking, reporting and collaborating on cases; ResourceRouter, a software that directs the deployment of patrol and community anti-violence resources; PlateRanger powered by Rekor, an automatic license plate recognition and vehicle identification solution; and SafePointe, an artificial intelligence-based weapons detection system. The company also offers ShotSpotter for Campus and ShotSpotter for Corporate, to universities, corporate campuses, and key infrastructure centers to mitigate risk and enhance security by notifying authorities of outdoor gunfire incidents and saving critical minutes for first responders to arrive. In addition, it provides perimeter-based sniper gunshot detection solutions. The company sells its solutions through its direct sales teams. The company was formerly known as ShotSpotter, Inc. and changed its name to SoundThinking, Inc. in April 2023.
SSTI (SoundThinking, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $106.1M, a beta of 1.18 versus the broader market, a 52-week range of 5.78-14.26, average daily share volume of 125K, a public-listing history dating back to 2017, approximately 303 full-time employees. These structural characteristics shape how SSTI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.18 places SSTI 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 SSTI?
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 SSTI snapshot
As of June 30, 2026, spot at $9.09, ATM IV 68.20%, IV rank 22.81%, expected move 19.55%. The bull call spread on SSTI 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 17-day expiry.
Why this bull call spread structure on SSTI specifically: SSTI IV at 68.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a SSTI bull call spread, with a market-implied 1-standard-deviation move of approximately 19.55% (roughly $1.78 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SSTI expiries trade a higher absolute premium for lower per-day decay. Position sizing on SSTI should anchor to the underlying notional of $9.09 per share and to the trader's directional view on SSTI stock.
SSTI bull call spread setup
The SSTI 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 SSTI near $9.09, the first option leg uses a $9.09 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SSTI chain at a 17-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 SSTI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $9.09 | N/A |
| Sell 1 | Call | $9.54 | N/A |
SSTI 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.
SSTI bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on SSTI. 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 SSTI
Bull call spreads on SSTI reduce the cost of a bullish SSTI stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
SSTI thesis for this bull call spread
The market-implied 1-standard-deviation range for SSTI extends from approximately $7.31 on the downside to $10.87 on the upside. A SSTI bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on SSTI, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current SSTI IV rank near 22.81% 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 SSTI at 68.20%. As a Technology name, SSTI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SSTI-specific events.
SSTI 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. SSTI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SSTI alongside the broader basket even when SSTI-specific fundamentals are unchanged. Long-premium structures like a bull call spread on SSTI 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 SSTI chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on SSTI?
- A bull call spread on SSTI is the bull call spread strategy applied to SSTI (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 SSTI stock trading near $9.09, the strikes shown on this page are snapped to the nearest listed SSTI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SSTI 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 SSTI bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 68.20%), 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 SSTI bull call spread?
- The breakeven for the SSTI 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 SSTI market-implied 1-standard-deviation expected move is approximately 19.55%; 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 SSTI?
- Bull call spreads on SSTI reduce the cost of a bullish SSTI 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 SSTI implied volatility affect this bull call spread?
- SSTI ATM IV is at 68.20% with IV rank near 22.81%, 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.