How are STUB 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 STUB bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 63.67%), the computed maximum profit is $30.00 per contract and the computed maximum loss is -$20.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a STUB bull call spread?

The breakeven for the STUB bull call spread priced on this page is roughly $8.20 at expiration, derived from the August 14, 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 STUB market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.25%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

STUB ATM IV is at 63.67% with IV rank near 1.09%, 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.

STUB Bull Call Spread Strategy

STUB (StubHub Holdings, Inc.), in the Communication Services sector, (Internet Content & Information industry), listed on NYSE.

StubHub Holdings, Inc. operates ticketing marketplace for live event tickets worldwide. It buys and sells tickets to live events and experiences through websites and mobile applications under the StubHub and viagogo brand names. The company was formerly known as Pugnacious Endeavors, Inc. and changed its name to StubHub Holdings, Inc. in September 2021. StubHub Holdings, Inc. was founded in 2000 and is based in New York, New York.

STUB (StubHub Holdings, Inc.) trades in the Communication Services sector, specifically Internet Content & Information, with a market capitalization of approximately $2.99B, a beta of 3.83 versus the broader market, a 52-week range of 5.74-27.89, average daily share volume of 5.9M, a public-listing history dating back to 2025, approximately 900 full-time employees. These structural characteristics shape how STUB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.83 indicates STUB 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 STUB?

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.

STUB snapshot

As of August 14, 2026, spot at $7.91, ATM IV 63.67%, IV rank 1.09%, expected move 18.25%. The bull call spread on STUB below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.

Why this bull call spread structure on STUB specifically: STUB IV at 63.67% is on the cheap side of its 1-year range, which favors premium-buying structures like a STUB bull call spread, with a market-implied 1-standard-deviation move of approximately 18.25% (roughly $1.44 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated STUB expiries trade a higher absolute premium for lower per-day decay. Position sizing on STUB should anchor to the underlying notional of $7.91 per share and to the trader's directional view on STUB stock.

STUB bull call spread setup

The STUB bull call spread below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With STUB at $7.91 on that close, the first option leg uses a $8.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed STUB chain at a 28-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 STUB shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$8.00	$0.50
Sell 1	Call	$8.50	$0.30

STUB bull call spread risk and reward

Net Premium / Debit: -$20.00
Max Profit (per contract): $30.00
Max Loss (per contract): -$20.00
Breakeven(s): $8.20
Risk / Reward Ratio: 1.500

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.

STUB bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on STUB. 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%	-$20.00
$1.76	-77.8%	-$20.00
$3.51	-55.7%	-$20.00
$5.25	-33.6%	-$20.00
$7.00	-11.5%	-$20.00
$8.75	+10.6%	+$30.00
$10.50	+32.7%	+$30.00
$12.24	+54.8%	+$30.00
$13.99	+76.9%	+$30.00
$15.74	+99.0%	+$30.00

When traders use bull call spread on STUB

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

STUB thesis for this bull call spread

The market-implied 1-standard-deviation range for STUB extends from approximately $6.47 on the downside to $9.35 on the upside. A STUB bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on STUB, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current STUB IV rank near 1.09% 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 STUB at 63.67%. As a Communication Services name, STUB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to STUB-specific events.

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

Frequently asked questions

What is a bull call spread on STUB?: A bull call spread on STUB is the bull call spread strategy applied to STUB (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 STUB stock at $7.91 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed STUB chain strike and the premiums come straight from that session's bid/ask midpoint.
How are STUB 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 STUB bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 63.67%), the computed maximum profit is $30.00 per contract and the computed maximum loss is -$20.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a STUB bull call spread?: The breakeven for the STUB bull call spread priced on this page is roughly $8.20 at expiration, derived from the August 14, 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 STUB market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.25%; 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 STUB?: Bull call spreads on STUB reduce the cost of a bullish STUB 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 STUB implied volatility affect this bull call spread?: STUB ATM IV is at 63.67% with IV rank near 1.09%, 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.