Calendar Put Spread Calculator

Search a symbol to visualize the potential profit and loss for a calendar put spread option strategy.

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What is a calendar put spread?

Limited ProfitLimited Loss

A neutral to mildly bearish/bullish strategy using two calls of the same strike, but different expiration dates. If the stock is near strike A when the earlier call expires, you will be able to close it for a profit.

Use an at-the-money strike to make this strategy neutral, or a slightly out-of-the-money or in-the-money strike to give a bullish or bearish bias.

(also known as: Horizontal Put Spread)
AProfitLossStock Price (at expiration)
  • Sell a put at strike A
  • Buy a put at strike A (further expiration)