Diagonal Spread Options Profit Calculator

Buy long-dated option at one strike, sell near-term at different strike.

Switch strategy

Symbol

Override price (optional — scenario testing)

Position Legs

Expiration Date

Enter a symbol above and select expiry to load live options data

Leg 1 — Long Call

manual

Strike

Premium / share

Contracts

Implied Volatility (%)

Leg 2 — Short Call

manual

Strike

Premium / share

Contracts

Implied Volatility (%)

Settings

IV Scenario

Commission ($ per contract)

Use bid/ask spread (worst-case fill)

Strategy Results

Select an expiry and strike to analyze your Diagonal Spread

P&L Chart

Enter strike and premium to see P&L chart

P&L Heatmap

price × DTE

Enter position details to see P&L heatmap

Position Greeks

Greeks appear once strikes are entered

What is a Diagonal Spread Options Calculator?

Combines elements of a calendar and vertical spread. Buy a longer-dated option and sell a shorter-dated option at a different strike. Flexible strategy with adjustable risk/reward.

Max risk

limited

Max reward

limited

Legs

2 legs