Calendar Spread
A calendar spread option strategy, also known as a horizontal spread or time spread, involves the simultaneous purchase and sale of two options with the same strike price but different expiration dates. The strategy aims to profit from the time decay of options and changes in implied volatility over time.
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Options
| Action | Qty | Expiration Date | Strike | Type | Price | Delta | IV | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RIVN | RIVN Leg 1 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
|
|||||
| RIVN | RIVN Leg 2 |
Action
Qty
|
Expiration Date
|
|
Strike
Type
|
Price
|
|
Delta
|
IV
%
|
|
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Trade Information
Calendar Spread
SELL -1 RIVN Dec 11, 2026 12.50 call @$1.06
BUY +1 RIVN Jan 15, 2027 12.00 call @$1.73
Stock
RIVN Current Price
$12.83 USD
RIVN Breakeven Price
Between $11.55 and $14.98
Trade Details
Cost of Trade
$67.00 USD
Maximum Profit
$52.05
Maximum Loss
-$67.00
CVaR
Probability Analysis
Probability of Profit (PoP)
Probability of Max Profit
Probability of Max Loss
Risk Reward Analysis
Expected Value (EV)
Expected Return (EV/risk)
Reward/Risk
Position Greeks
Delta (Δ)
Gamma (Γ)
Theta (Θ)
Vega (ν)