Buy a longer-dated put, sell a shorter-dated OTM put. Profits from time decay + a moderate drop.
๐ฏ Target
67d from today
โ๏ธ Legs
LONG PUT ยท $380 ยท Jul '26
Qty 1 ยท Premium $40.37 ยท ฮ -0.47
SHORT PUT ยท $360 ยท Jun '26
Qty 1 ยท Premium $27.77 ยท ฮ -0.39
P&L at Expiry
Stock (100 sh)Diagonal Put SpreadNowTarget
๐ก Stock vs Options at Target
If CRWD hits $360 by Jun 19:
the diagonal put spread returns
+$1,872
(148.6%)
on $1,260 risked, vs
$-1,902
(-5.0%)
for 100 shares on $37,902.
Options give 29.7ร capital efficiency.
๐ Expiry
Options expire Jun 19, 2026
(67 days out).
P&L shown is the value at expiry if CRWD is at $360.
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
CRWD Price
Today
May 5
May 27
Jun 19 (exp)
$303
(-20%)
+$655
+$734
+$809
+$720
$322
(-15%)
+$604
+$711
+$864
+$904
$341
(-10%)
+$516
+$636
+$842
+$1,264
$360
(-5%)โ target
+$394
+$505
+$712
+$1,858
$371
(-2%)
+$306
+$403
+$582
+$1,204
$379
(0%)โ spot
+$243
+$327
+$479
+$827
$387
(+2%)
+$177
+$246
+$365
+$492
$398
(+5%)
+$75
+$119
+$182
+$67
$417
(+10%)
-$100
-$100
-$131
-$458
$436
(+15%)
-$271
-$313
-$419
-$798
$455
(+20%)
-$433
-$508
-$660
-$1,006
Uses CRWD's current IV for repricing. P&L includes all legs (stock + options). Qty: 1x.