Calendar spreads are a great modification of the diagonal option spread strategy. The calendar spread is useful when you are more uncertain about the direction of the market and want to increase the ...

The strategy is called a diagonal call spread and it’s an advanced strategy because it utilizes options over different expiration periods and different strike prices.

Taiwan Semiconductor Diagonal Put Spread Example The trade I’m looking at is selling a July 18 call with a strike price of $240 and buying an August 1 call with a strike price of $245.