BULLISH Strategy
Bull Call Spread
Live Bull Call Spread Setup for RZLV
What is a Bull Call Spread?
A Bull Call Spread (Vertical Call Spread) involves buying an at-the-money call and selling an out-of-the-money call at a higher strike.
When to Use It
Use when you are moderately bullish on a stock and want to reduce the cost of a long call.
Advantages
Lower cost than buying a call outright
Defined maximum loss
Less impact from IV crush
Disadvantages
Upside is capped at the short strike
Maximum profit is limited
Pro Tip
RZLV IV Rank:
69%
(High)
Place the short strike at a major institutional resistance level (Call Wall).
Low IV
High IV
Never miss a prime RZLV setup
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Visualize the Bull Call Spread levels directly on your TradingView chart with this custom indicator snippet.
//@version=5
indicator("Bull Call Spread Visualizer", overlay=true)
// Inputs
long_call = input.float(100.0, "Long Call (Buy)")
short_call = input.float(110.0, "Short Call (Sell)")
// Drawing
p1 = plot(long_call, "Long Strike", color.green, 2)
p2 = plot(short_call, "Short Strike", color.red, 2)
// Logic
fill(p1, p2, color.new(color.green, 80), "Profit Zone")
bgcolor(close > short_call ? color.new(color.green, 90) : na)
How to use: Open the "Pine Editor" at the bottom of your TradingView chart, paste this code, and click "Add to Chart".