Bear call spread

Sell a lower-strike call, buy a higher-strike call. You collect a credit. Profits if stock stays below the lower strike; max loss is capped by the long call above.

INPUTS

Underlying price

Centers the payoff chart and computes P&L at this price.

LEGS

Short lower call

Type

Side

Strike

Qty

Premium

Long upper call

Type

Side

Strike

Qty

Premium

RESULT

$60.002 strikes$140.00

P&L at current spot (expiry)

+$120

Net credit+$120

Max profit+$120

Max loss−$380

Breakeven$101.20

Risk / reward0.32 : 1

RISK PROFILE

Max profit

Net credit received

Max loss

Strike width × 100 − net credit

Breakeven

Lower strike + (credit ÷ 100)

RELATED STRATEGIES

Bull put spread

Bullish · Credit spread, defined risk.

Bull call spread

Bullish · Debit spread, defined risk and reward.

Iron condor

Neutral · Defined-risk credit, profits when stock stays in range.

Done planning? Log the trade.

Sutekka journals every leg automatically — and shows you the actual P&L when you close it. Free forever.

Start logging — free