Buy a longer-dated put, sell a shorter-dated OTM put. Profits from time decay + a moderate drop.
๐ฏ Target
59d from today
โ๏ธ Legs
LONG PUT ยท $1480 ยท Jul '26
Qty 1 ยท Premium $128.9 ยท ฮ -0.46
SHORT PUT ยท $1400 ยท Jun '26
Qty 1 ยท Premium $65.2 ยท ฮ -0.35
P&L at Expiry
Stock (100 sh)Diagonal Put SpreadNowTarget
๐ก Stock vs Options at Target
If ASML hits $1400 by Jun 19:
the diagonal put spread returns
+$5,060
(79.4%)
on $6,370 risked, vs
$-7,650
(-5.2%)
for 100 shares on $147,650.
Options give 15.3ร capital efficiency.
๐ Expiry
Options expire Jun 19, 2026
(59 days out).
P&L shown is the value at expiry if ASML is at $1400.
Use the 30d / 60d / 90d / 180d pills to compare different expiries.
Forward Projection
Reprices legs at (target_price, target_date) via Black-Scholes. Works on existing BS service. Simplest mode โ ship first.
Historical Backtest
Uses our historical options chains to replay this exact strategy over past expirations. Needs: date picker, "rolling every N days", cumulative P&L chart.
Signal Backtest
"Run this strategy on every BUY-rated stock with score โฅ 80 for last 90d." Reuses score_backtest pipeline + strategy overlay.
Solve for Return
Inverse: user says "+50% in 90d", system solves for required price move, shows IV-implied probability. Pure math.
๐ P&L Scenarios โ what happens at different prices and dates
ASML Price
Today
May 10
May 30
Jun 19 (exp)
$1181
(-20%)
+$1,255
+$1,501
+$1,693
+$1,384
$1255
(-15%)
+$1,048
+$1,424
+$1,938
+$1,939
$1329
(-10%)
+$654
+$1,095
+$1,865
+$3,151
$1400
(-5%)โ target
+$101
+$511
+$1,296
+$5,222
$1447
(-2%)
-$340
+$0
+$649
+$2,470
$1477
(0%)โ spot
-$640
-$360
+$155
+$984
$1506
(+2%)
-$953
-$742
-$383
-$316
$1550
(+5%)
-$1,438
-$1,339
-$1,234
-$1,937
$1624
(+10%)
-$2,252
-$2,339
-$2,619
-$3,865
$1698
(+15%)
-$3,027
-$3,268
-$3,801
-$5,039
$1772
(+20%)
-$3,725
-$4,067
-$4,700
-$5,703
Uses ASML's current IV for repricing. P&L includes all legs (stock + options). Qty: 1x.