How are WGS 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 WGS bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 71.62%), the computed maximum profit is $27.50 per contract and the computed maximum loss is -$172.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a WGS bull call spread?

The breakeven for the WGS bull call spread priced on this page is roughly $42.73 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 WGS market-implied 1-standard-deviation expected move is approximately 20.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

WGS ATM IV is at 71.62% with IV rank near 19.98%, 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.

WGS Bull Call Spread Strategy

WGS (GeneDx Holdings Corp.), in the Healthcare sector, (Medical - Healthcare Information Services industry), listed on NASDAQ.

GeneDx Holdings Corp. is a patient centered health intelligence company. It engages in transforming healthcare by applying AI and machine learning to multidimensional, longitudinal clinical and genomic data to build dynamic models of human health and defining optimal, individualized health trajectories. The firm, through its Centrellis health intelligence platform, generates a more complete understanding of disease and wellness and provides science-driven solutions to the most pressing medical needs. The company was founded by Eric Schadt in October 2015 and is headquartered in Stamford, CT.

WGS (GeneDx Holdings Corp.) trades in the Healthcare sector, specifically Medical - Healthcare Information Services, with a market capitalization of approximately $1.16B, a beta of 2.07 versus the broader market, a 52-week range of 32.21-170.87, average daily share volume of 1.1M, a public-listing history dating back to 2020, approximately 1K full-time employees. These structural characteristics shape how WGS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.07 indicates WGS 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 WGS?

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 WGS snapshot

As of May 15, 2026, spot at $40.59, ATM IV 71.62%, IV rank 19.98%, expected move 20.53%. The bull call spread on WGS 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 28-day expiry.

Why this bull call spread structure on WGS specifically: WGS IV at 71.62% is on the cheap side of its 1-year range, which favors premium-buying structures like a WGS bull call spread, with a market-implied 1-standard-deviation move of approximately 20.53% (roughly $8.33 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 WGS expiries trade a higher absolute premium for lower per-day decay. Position sizing on WGS should anchor to the underlying notional of $40.59 per share and to the trader's directional view on WGS stock.

WGS bull call spread setup

The WGS 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 WGS near $40.59, the first option leg uses a $41.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed WGS 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 WGS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$41.00	$3.55
Sell 1	Call	$43.00	$1.83

WGS bull call spread risk and reward

Net Premium / Debit: -$172.50
Max Profit (per contract): $27.50
Max Loss (per contract): -$172.50
Breakeven(s): $42.73
Risk / Reward Ratio: 0.159

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.

WGS bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on WGS. 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.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$172.50
$8.98	-77.9%	-$172.50
$17.96	-55.8%	-$172.50
$26.93	-33.7%	-$172.50
$35.90	-11.5%	-$172.50
$44.88	+10.6%	+$27.50
$53.85	+32.7%	+$27.50
$62.82	+54.8%	+$27.50
$71.80	+76.9%	+$27.50
$80.77	+99.0%	+$27.50

When traders use bull call spread on WGS

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

WGS thesis for this bull call spread

The market-implied 1-standard-deviation range for WGS extends from approximately $32.26 on the downside to $48.92 on the upside. A WGS bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on WGS, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current WGS IV rank near 19.98% 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 WGS at 71.62%. As a Healthcare name, WGS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to WGS-specific events.

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

Frequently asked questions

What is a bull call spread on WGS?: A bull call spread on WGS is the bull call spread strategy applied to WGS (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 WGS stock trading near $40.59, the strikes shown on this page are snapped to the nearest listed WGS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are WGS 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 WGS bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 71.62%), the computed maximum profit is $27.50 per contract and the computed maximum loss is -$172.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a WGS bull call spread?: The breakeven for the WGS bull call spread priced on this page is roughly $42.73 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 WGS market-implied 1-standard-deviation expected move is approximately 20.53%; 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 WGS?: Bull call spreads on WGS reduce the cost of a bullish WGS 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 WGS implied volatility affect this bull call spread?: WGS ATM IV is at 71.62% with IV rank near 19.98%, 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.