Weekly Bull Call Spread on XLK (Technology Select Sector ETF) — Alpaca Paper Account P&L, Risk Metrics & Trade Analytics

📡 Strategy Overview

This strategy runs a weekly Bull Call Spread on XLK (Technology Select Sector ETF) via the Alpaca paper-trading API. The spread is a net-debit, defined-risk options strategy with a bullish directional bias. Premium is paid up-front; the trade is profitable if XLK rises above the long strike toward the short strike at expiry.

The spread is opened every Monday morning (9:40 ET) and closed every Thursday afternoon (15:45 ET), targeting the following Friday's weekly expiry. Because the Np2 account runs multiple strategies on different underlyings, all performance metrics on this page are computed exclusively from XLK option legs (OCC symbols matching XLK[date][CP][strike]).

Spread Construction

Position Side Strike Premium
Long call Buy to open price × 1.02 → nearest $5 PAY (lower strike, long leg)
Short call Sell to open price × 1.05 → nearest $5 COLLECT (higher strike, cap)
Net Debit buy premium − sell premium

⚠️ Options Permission Requirements (Alpaca)

This strategy requires Level 3 (Spreads) options approval on each Alpaca account. Level 3 allows multi-leg defined-risk spreads (iron butterflies, iron condors, verticals, etc.). Accounts must also be margin-enabled.

Apply via: Alpaca Dashboard → Account → Trading → Options Trading → Level 3.