How Is the Breakeven Point of a Long Call Option Affected by the Bid-Offer Spread?

The breakeven point for a long call option is typically the strike price plus the premium paid. However, the bid-offer spread increases the effective premium paid when the option is bought (paying the offer) and reduces the effective price received when the option is sold (receiving the bid).

Therefore, the spread effectively increases the breakeven price required for the trade to be profitable.