---
title: "Bull Call Spread — options strategy"
type: "options-strategy"
topic: "Options strategies (Indian markets)"
category: "Spread"
outlook: "Bullish"
complexity: "intermediate"
risk: "defined"
slug: "bull-call-spread"
url: "https://learn-derivatives.tapetide.com/strategies/bull-call-spread"
markdown_url: "https://learn-derivatives.tapetide.com/strategies/bull-call-spread.md"
source: "DeltaDesk by Tapetide"
---

# Bull Call Spread

> **In plain English:** A cheaper way to bet on a rise. You buy a call, then sell a higher call to fund part of it. You give up the gains above that higher strike in exchange for paying less and knowing your exact max loss up front.

**Category:** Spread · **Market view:** Bullish · **Complexity:** intermediate · **Risk:** Defined

## Structure

- Buy ATM call
- Sell ATM+3 strikes call

## Summary

Buy a call and sell a higher-strike call to cheapen the trade and define risk.

## When to use it

Moderately bullish with a price target. The short call funds part of the long call.

## Profit & loss

- **Max profit:** Capped at (spread width − net debit).
- **Max loss:** Limited to the net debit paid.

## Net Greeks profile

Net positive delta, reduced vega/theta vs a naked long call.

## Margin

Light (net debit paid).

## Common mistakes

- Strikes too wide (it just acts like a naked call).
- Holding into expiry expecting full value too early.

## India example

Buy ATM NIFTY call, sell the call 3 strikes higher for a defined-risk bullish bet.

---

**Build it live in the [DeltaDesk Strategy Lab](https://learn-derivatives.tapetide.com/tools/strategy-lab)** — tune strikes and see payoff + net Greeks update instantly.

*Educational content only — nothing here is investment advice. Derivatives carry significant risk of loss. Tapetide is not a SEBI-registered research analyst or investment adviser.*