basicLow RiskBullish
Long Call
The simplest bullish options trade. You pay a premium for the right to buy shares at the strike price.
What is a Long Call?
A long call gives you the right — but not the obligation — to buy 100 shares of a stock at a specific price (the strike) before expiration. You pay a premium upfront. If the stock rises above your strike + premium paid, you profit. If it doesn't, you lose only what you paid.
When to use it
Use a long call when you're bullish on a stock but don't want to tie up capital buying shares outright. Also useful as a hedge against a short position. Best when IV is relatively low (you're buying cheap options) and you expect a significant move before expiration.
Structure
Buy 1 call option at your chosen strike and expiration.
Key Metrics
Max Profit
Theoretically unlimited — as the stock rises, so does your profit.
Max Loss
Limited to the premium paid. If the stock closes below your strike at expiration, you lose 100% of premium.
Breakeven
Strike price + premium paid. E.g. if you buy a $50 call for $2, you need the stock above $52 to profit.
Greeks Profile
Delta: positive (profits as stock rises). Theta: negative (time decay hurts you). Vega: positive (higher IV benefits you). Gamma: positive.
Tips & Best Practices
- 1Buy calls with at least 30–60 DTE to give the trade room to work.
- 2Avoid buying when IV is very high — you're paying up for options.
- 3Consider a bull call spread if you want to reduce premium cost.
- 4ATM or slightly OTM calls offer the best balance of leverage and cost.
See it in action
Model a Long Call with a real ticker. See the P&L chart, heatmap, and exact breakevens.
Open Long Call Calculator →