Vertical Spread Calculator
Vertical spreads are two-leg options strategies using options of the same type (calls or puts) with the same expiration but different strikes.
There are four types of vertical spreads: - Bull Call Spread - Debit spread, bullish, buy lower call + sell higher call - Bear Call Spread - Credit spread, bearish, sell lower call + buy higher call - Bull Put Spread - Credit spread, bullish, sell higher put + buy lower put - Bear Put Spread - Debit spread, bearish, buy higher put + sell lower put
Vertical spreads offer defined risk, capital efficiency, and flexibility to express directional views with controlled exposure.
Frequently Asked Questions
A vertical spread is an options strategy using two options of the same type (both calls or both puts), same expiration, but different strike prices. The "vertical" refers to strike prices being listed vertically on an option chain.
Ready to build your spread?
OptionsCalc provides visual payoff diagrams, net Greeks, and IV modeling. Free to use, no account required.
Launch Calculator