UONE Bull Call Spread Strategy
UONE (Urban One, Inc.), in the Communication Services sector, (Broadcasting industry), listed on NASDAQ.
Urban One, Inc., together with its subsidiaries, operates as an urban-oriented multi-media company in the United States. The company operates through four segments: Radio Broadcasting, Cable Television, Reach Media, and Digital. The Radio Broadcasting segment includes radio broadcasting operations that primarily target African-American and urban listeners. As of December 31, 2021, it owned and/or operated 64 broadcast stations, including 54 FM or AM stations, 8 HD stations, and the 2 low power television stations under the Radio One tradename located in 13 urban markets. The Cable Television segment operates TV One, an African-American targeted cable television network; and CLEO TV, a lifestyle and entertainment network. The Reach Media segment operates syndicated programming, including the Get Up!
UONE (Urban One, Inc.) trades in the Communication Services sector, specifically Broadcasting, with a market capitalization of approximately $16.5M, a beta of 0.29 versus the broader market, a 52-week range of 5.1-19, average daily share volume of 129K, a public-listing history dating back to 1999, approximately 962 full-time employees. These structural characteristics shape how UONE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.29 indicates UONE has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a bull call spread on UONE?
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 UONE snapshot
As of May 15, 2026, spot at $5.65, ATM IV 433.90%, IV rank 98.42%, expected move 124.39%. The bull call spread on UONE 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 UONE specifically: UONE IV at 433.90% is rich versus its 1-year range, which makes a premium-buying UONE bull call spread relatively expensive in absolute-cost terms, with a market-implied 1-standard-deviation move of approximately 124.39% (roughly $7.03 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 UONE expiries trade a higher absolute premium for lower per-day decay. Position sizing on UONE should anchor to the underlying notional of $5.65 per share and to the trader's directional view on UONE stock.
UONE bull call spread setup
The UONE 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 UONE near $5.65, the first option leg uses a $5.65 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UONE 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 UONE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $5.65 | N/A |
| Sell 1 | Call | $5.93 | N/A |
UONE 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.
UONE bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on UONE. 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 UONE
Bull call spreads on UONE reduce the cost of a bullish UONE stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
UONE thesis for this bull call spread
The market-implied 1-standard-deviation range for UONE extends from approximately $-1.38 on the downside to $12.68 on the upside. A UONE bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on UONE, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current UONE IV rank near 98.42% 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 UONE at 433.90%. As a Communication Services name, UONE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UONE-specific events.
UONE 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. UONE positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move UONE alongside the broader basket even when UONE-specific fundamentals are unchanged. Long-premium structures like a bull call spread on UONE 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 UONE chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on UONE?
- A bull call spread on UONE is the bull call spread strategy applied to UONE (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 UONE stock trading near $5.65, the strikes shown on this page are snapped to the nearest listed UONE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are UONE 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 UONE bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 433.90%), 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 UONE bull call spread?
- The breakeven for the UONE 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 UONE market-implied 1-standard-deviation expected move is approximately 124.39%; 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 UONE?
- Bull call spreads on UONE reduce the cost of a bullish UONE 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 UONE implied volatility affect this bull call spread?
- UONE ATM IV is at 433.90% with IV rank near 98.42%, 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.