Spreads · bullish
Call Diagonal Spread Option Calculator
Sell near-term higher strike call, buy longer-dated lower strike call. Bullish calendar variant.
How this Call Diagonal Spread calculator works
This free Call Diagonal Spread profit calculator estimates profit and loss across stock prices and dates. Use live quotes and the option chain (via the local data proxy), then review max profit, max loss, breakevens, ROI on risk, probability of profit, and a date × price heatmap or numerical matrix.
- At expiration: intrinsic payoff for each option leg (and stock, if included).
- Before expiration: Black–Scholes theoretical value using each leg’s IV and DTE.
- Multi-expiry: near-term legs settle first; longer-dated legs keep remaining time value (this strategy uses multiple expirations).
Typical legs for a Call Diagonal Spread
Default template legs (edit freely or replace from the option chain):
- Leg 1: buy call @ strike template 100, 60 DTE
- Leg 2: sell call @ strike template 110, 30 DTE
When traders use a Call Diagonal Spread
Market outlook: bullish. Use the calculator to stress-test strikes and premiums before placing an order. Options involve substantial risk of loss and are not suitable for every investor.
Frequently asked questions
What is a Call Diagonal Spread options strategy?
Sell near-term higher strike call, buy longer-dated lower strike call. Bullish calendar variant.
How do I calculate profit and loss for a Call Diagonal Spread?
Enter the underlying price, strikes, premiums, and contracts in the Call Diagonal Spread calculator. The tool shows max profit, max loss, breakeven points, and a P/L heatmap from now until expiration using Black–Scholes before expiry and intrinsic value at expiration.
Is the Call Diagonal Spread strategy bullish?
This strategy is generally considered bullish in market outlook. Always confirm risk, margin, and assignment rules with your broker before trading.
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