Options Theory / Explore strategy
Theory ↗Bull call spread
SPY · Teaching example
Reference price $500. All strikes and premiums are illustrative, not live quotes or a trade recommendation.
Explore the outcome
Simulated profit / loss$700
Moving the slider only changes the scenario, not the contracts.Maximum profit$1,700
Maximum loss-$300
Net premium-$300
Breakeven prices at expiration$503.00
Edit the contracts
Premiums are per share. Each standard contract represents 100 shares.
Save to your account and continue in your workspace.Illustrative prices, before fees. Expiration payoffs exclude early assignment and changes in time value or volatility. Editing strikes keeps the entered premiums; no market quotes are fetched.