OptiTrader - Calendar Spread

Calendar Spread

A time-decay strategy — buy a longer-term option and sell a shorter-term option at the same strike:

Sell a shorter-term option (faster time decay, collect premium)
Buy a longer-term option at the same strike (protection)
Max profit when stock is near the strike at near expiration
Max loss is the net debit paid upfront

Your Inputs

Strike Price ($)

Long-Term Premium Paid ($)

Short-Term Premium Collected ($)

Near Expiration Date

Far Expiration Date

Number of Contracts

Results

Net Debit (Max Loss)

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Breakeven (approx.)

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Days to Near Exp.

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Days to Far Exp.

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📌 About Calendar Spread P&L The calendar spread's profit at near expiration depends on the remaining time value of the long option, which requires an options pricing model. The figures above show your net cost and approximate breakeven.