🎯 Options Strategy: Bull Call Spread

$T-REX 2x Long BMNR Daily Target ETF(BMNU)$

- Underlying: BMNU

- View: Cautiously Bullish / Short-term oversold rebound. The stock has rebounded from its low with high volume, and RSI has moved out of oversold territory, suggesting potential for a continued move towards the $2.14 resistance.

- Strategy Type: Directional Bullish / Debit Spread

- Option Contract Portfolio:

- Buy 1 BMNU 19 Jun 2026 $2.00 Call @ ~$0.35

- Sell 1 BMNU 19 Jun 2026 $2.50 Call @ ~$0.12

- Max Gain & Loss: Max Gain = ($2.50 - $2.00) - Net Debit. Max Loss = Net Debit Paid.

- Initial Cost/Credit: Net Debit ~$0.23 per spread.

- Greek Exposure (Simulated):

- Delta: +0.25 (Moderate positive directional exposure)

- Theta: -0.002 (Slight negative time decay, but mitigated by short leg)

- Vega: +0.001 (Slightly positive, but minimal sensitivity to IV crush)

- Gamma: +0.35 (Moderate sensitivity near ATM)

- Rho: +0.001 (Minimal)

- Rationale: This strategy is optimal for a "cautiously bullish" view. It provides leveraged upside to the $2.14 target while strictly defining and capping risk (max loss = debit paid). The short call at $2.50 helps finance the long call, reducing capital outlay and lowering the breakeven point ($2.23). It benefits from a rise in Delta if the stock moves up, while the negative Theta impact is reduced compared to a naked long call. Given the extremely high IV (>190%), a vertical spread significantly reduces negative Vega exposure, protecting against a potential IV collapse if the rebound stabilizes.

- Time Frame: Short-Term (Approx. 35 days to expiration).

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