Bullish options calculator
Call Spread Calculator
Model a debit call spread by buying a lower-strike call and selling a higher-strike call for the same expiration.
Reviewed May 2026
When a call spread is useful
A debit call spread can fit a defined bullish view: the trader expects the stock to rise, but not necessarily far beyond the short strike. Selling the higher-strike call lowers the entry cost and caps the upside.
- Plan the price target needed to beat the entry cost.
- Compare narrow and wide spreads with the same expiration.
- Check whether a cheaper spread gives up too much upside.
What the payoff means
At expiration, the maximum value of a standard call spread is the distance between the two strikes. The maximum profit is that width minus the debit paid. The maximum loss is the debit paid.
Common questions
Can a debit call spread lose more than the debit?
A standard long debit call spread generally has maximum loss equal to the debit paid, before commissions and execution differences.
Why sell the higher-strike call?
Selling the higher-strike call lowers the cost of the position, but it also caps the profit above that strike.
What happens if the stock finishes above the short strike?
At expiration, a standard debit call spread is usually worth the strike width when the stock is above the short strike.