# Bull Call Spread

> Is the upper strike a realistic price target inside this expiration?

| Property | Value |
| --- | --- |
| Market phase | Basing out, or a quiet upward drift, Clear uptrend, expected to continue |
| Driver | Delta - you get paid because price moves your way |
| Direction | bullish |
| Max profit | the spread width minus the debit paid |
| Max loss | the debit paid |
| Risk defined | Yes |
| Legs | +1 Call @K_low; -1 Call @K_high |
| Approval level | 3 (Defined-risk spreads) |
| Experience | Beginner |

## Formulas

```text
Break-even: K_low + D
Max profit: W - D
Max loss: D
```

## Legs

1. +1 Call @K_low
2. -1 Call @K_high

[Read this strategy on the web](https://www.mindtrajour.com/en/academy/strategies/bull-call-spread)