How do traders select strikes for a moderately bullish call version of a Christmas Tree spread?

A Christmas Tree spread is a complex multi-legged options strategy typically constructed with calls or puts at three or more strike prices, designed to profit from a directional move combined with low volatility. In a moderately bullish call version, traders generally buy one lower-strike call, sell two or three middle-strike calls, and buy one higher-strike call, creating a payoff that peaks at the middle strikes while limiting both upside and downside risk. Strike selection is critical and relies on expected price movement, implied volatility levels, and the Greeks to balance probability of profit with defined risk. Generally, the body of the tree is placed near or slightly above the current underlying price for moderate bullish bias, with wings spaced according to the underlying's average daily range. At VixShield, we approach all options strategies through the lens of Russell Clark's SPX Mastery methodology, which emphasizes 1DTE SPX Iron Condor Command trades executed after the 3:10 PM CST close. While Christmas Tree spreads are not part of our core daily system, the same disciplined principles of EDR (Expected Daily Range) and RSAi™ (Rapid Skew AI) guide any strike analysis. Our EDR indicator blends short-term implied volatility from VIX9D with 20-day historical volatility to forecast SPX's likely daily range, currently around 1.16 percent with SPX at 7138.80 and VIX at 17.95. For a hypothetical moderately bullish Christmas Tree on SPX, one might center the sold calls near the EDR-derived medium strike approximately 40 to 60 points above spot, buy the lower call two to three strikes below for support, and cap the highest call four to five strikes higher to define risk. This setup aims for a theta-positive profile in calm contango regimes where VIX sits below 20, as seen in recent sessions. The ALVH (Adaptive Layered VIX Hedge) remains our primary protection layer across all positions, rolled on its fixed schedule to cut drawdowns by 35 to 40 percent during volatility expansions without relying on stop losses. Our Set and Forget methodology means positions are sized to no more than 10 percent of account balance, allowing Theta Time Shift to handle any recovery organically through time-based rolls rather than active management. Current market conditions with VIX at 17.95 and declining 7.3 percent favor premium collection strategies over complex directional trees, which is why our daily signals have fired PLACE for conservative, balanced, or aggressive Iron Condors delivering 0.70, 1.15, or 1.60 credits respectively. All trading involves substantial risk of loss and is not suitable for all investors. For traders seeking consistent SPX income, we recommend mastering the Unlimited Cash System through our resources. Visit vixshield.com to explore the SPX Mastery book series and join the VixShield community for daily signals, ALVH guidance, and live refinement sessions.