# How to gauge returns via stock spread charts?

#### DoesNotCompute

##### Newbie
As a beginner, I was looking into stock spreads and I'm starting to grasp the main concepts, but I'm still not sure about the overall interpretation of spread charts.

Let's say we look at the AAPL-2*UBER spread:

This spread moved from 16.7 USD up to 36.41 USD during April, a 19.7 (118%) move.
How can this chart be used to judge the percentage movement of the spread position?

Let's say AAPL was 100 USD and UBER was 50 USD in the beginning of the 118% spread move in the picture. We have to buy 1 x AAPL share and sell 2 x UBER shares ( 100 USD + 2 x 50 USD = 200 USD ).

Is the overall return of this spread position 19.7 (point gain on the chart) / 200 (spread entry cost) = 9.85% or am I interpreting it wrongly ?

#### mpups

##### Experienced member
As a beginner, I was looking into stock spreads and I'm starting to grasp the main concepts, but I'm still not sure about the overall interpretation of spread charts.

Let's say we look at the AAPL-2*UBER spread:

This spread moved from 16.7 USD up to 36.41 USD during April, a 19.7 (118%) move.
How can this chart be used to judge the percentage movement of the spread position?

Let's say AAPL was 100 USD and UBER was 50 USD in the beginning of the 118% spread move in the picture. We have to buy 1 x AAPL share and sell 2 x UBER shares ( 100 USD + 2 x 50 USD = 200 USD ).

Is the overall return of this spread position 19.7 (point gain on the chart) / 200 (spread entry cost) = 9.85% or am I interpreting it wrongly ?
Yes the gain is the change in the spread, so about \$20 as you said

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