TXG Bull Call Spread Strategy
TXG (10x Genomics, Inc.), in the Healthcare sector, (Medical - Healthcare Information Services industry), listed on NASDAQ.
10x Genomics, Inc., a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products. Its single cell solutions runs on its chromium instruments, which include single cell gene expression for measuring gene activity on a cell-by-cell basis; single cell immune profiling for measuring the activity of immune cells and their targets; single cell Assay for Transposase Accessible Chromati (ATAC) for measuring epigenetics comprising the physical organization of DNA; and single cell multiome ATAC + gene expression for measuring the genetic activity and epigenetic programming in the same cells across tens of thousands of cells in a single experiment. The company also provides visium spatial gene expression solution for measuring spatial gene expression patterns across a single tissue sample or gene expression and protein co-detection when combined with immunofluorescence. It serves various academic, government, biopharmaceutical, biotechnology, and other institutions. The company was formerly known as 10X Technologies, Inc. and changed its name to 10x Genomics, Inc. in November 2014. 10x Genomics, Inc. was incorporated in 2012 and is headquartered in Pleasanton, California.
TXG (10x Genomics, Inc.) trades in the Healthcare sector, specifically Medical - Healthcare Information Services, with a market capitalization of approximately $2.67B, a beta of 2.05 versus the broader market, a 52-week range of 8.065-26.445, average daily share volume of 2.5M, a public-listing history dating back to 2019, approximately 1K full-time employees. These structural characteristics shape how TXG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.05 indicates TXG 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 TXG?
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 TXG snapshot
As of May 15, 2026, spot at $21.18, ATM IV 75.10%, IV rank 29.39%, expected move 21.53%. The bull call spread on TXG 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 TXG specifically: TXG IV at 75.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a TXG bull call spread, with a market-implied 1-standard-deviation move of approximately 21.53% (roughly $4.56 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 TXG expiries trade a higher absolute premium for lower per-day decay. Position sizing on TXG should anchor to the underlying notional of $21.18 per share and to the trader's directional view on TXG stock.
TXG bull call spread setup
The TXG 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 TXG near $21.18, the first option leg uses a $21.18 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TXG 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 TXG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $21.18 | N/A |
| Sell 1 | Call | $22.24 | N/A |
TXG 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.
TXG bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on TXG. 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 TXG
Bull call spreads on TXG reduce the cost of a bullish TXG stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
TXG thesis for this bull call spread
The market-implied 1-standard-deviation range for TXG extends from approximately $16.62 on the downside to $25.74 on the upside. A TXG bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on TXG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current TXG IV rank near 29.39% 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 TXG at 75.10%. As a Healthcare name, TXG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TXG-specific events.
TXG 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. TXG positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TXG alongside the broader basket even when TXG-specific fundamentals are unchanged. Long-premium structures like a bull call spread on TXG 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 TXG chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on TXG?
- A bull call spread on TXG is the bull call spread strategy applied to TXG (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 TXG stock trading near $21.18, the strikes shown on this page are snapped to the nearest listed TXG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TXG 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 TXG bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 75.10%), 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 TXG bull call spread?
- The breakeven for the TXG 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 TXG market-implied 1-standard-deviation expected move is approximately 21.53%; 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 TXG?
- Bull call spreads on TXG reduce the cost of a bullish TXG 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 TXG implied volatility affect this bull call spread?
- TXG ATM IV is at 75.10% with IV rank near 29.39%, 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.