Calendar Analyzer — bpleone / trade

Spot

$138.27

Front IV (7d)

42.4%

Back IV (60d)

38.2%

Term Structure

Backward

front > back · sell front

🎯 Calendar Spread Builder

Long Strike (back month)

Short Strike (front month, same strike)

Long $140 60d (debit)-$9.40

Short $140 7d (credit)+$1.40

Net Debit$8.00

Max profit (theory)≈ $4.20

Max loss$800 (debit paid)

Theta net (per day)+$18

Vega net+$32

Theta:Vega ratio0.56

📊 Payoff Diagram (at front-month expiry)

Maximum profit occurs at $140 on front-month expiry — the short leg expires worthless while the long retains time value. Calendar profits from (a) front-month IV crush (short benefits) and (b) back-month IV holding firm. Loses if a large directional move pushes price away from the strike before short expiry.

📋 Top Calendar Opportunities (Universe Scan)

#	Symbol	Strike	Front IV	Back IV	Diff	Debit	θ:ν	Catalyst	Action
1	NVDA	$140	42.4%	38.2%	+4.2 pts	$8.00	0.56	Computex 5/19	CALENDAR
2	META	$590	36.4%	32.4%	+4.0 pts	$11.20	0.62	None near-term	CALENDAR
3	TSLA	$250	58.2%	52.4%	+5.8 pts	$12.40	0.48	Robotaxi (delayed)	DIAGONAL
4	AMD	$165	46.4%	42.1%	+4.3 pts	$8.20	0.54	None	CALENDAR
5	AAPL	$220	30.4%	28.4%	+2.0 pts	$6.80	0.78	WWDC 6/9	CALENDAR
6	QQQ	$487	19.4%	18.2%	+1.2 pts	$5.20	0.92	None	CALENDAR
7	SPY	$562	15.4%	14.8%	+0.6 pts	$3.40	1.18	None	SKIP

How to read: Wider front-back IV diff (backwardation) = better calendar setup. θ:ν below 0.7 = vega-dominated (directional/event risk); above = theta-dominated (pure time decay). Best calendars have +3+ pt diff and θ:ν between 0.5 and 0.9.