Visa December 410/420 call spread: defined earnings risk

Buy December 18 $410 calls and sell $420 calls. November $410 calls attracted $687K of ask-side buying across five sessions, with open interest roughly doubling. Today's paired trades are not independent bullish evidence. Earnings arrive October 27; the spread reduces volatility exposure and caps gains. Target $440 by November 20, taking profits near a 100% spread gain. Exit on a daily close below $399 or a 50% debit loss. Reassess November 6 below $410. The debit is the maximum loss.

• V, call debit spread, 3-8 weeks, opened Oct 26, 2026.

Updated 2026-11-02 17:12 UTC