Definitions for "Diagonal spread"
An option strategy involving two options, one a put and one a call, with different expiration dates and strike prices. see also spread, vertical spread, calendar spread, combination.
Options investment strategy involving the same number of options for the same underlying stock of the same class (either all puts or all calls) but with different strike prices and different expiration dates. An example of a diagonal spread is a call with an expiration date of May and strike price of 50, and a call with an expiration date of September and strike price of 55. See also horizontal spread, time spread, and vertical spread.
An option spread where one option is purchased and a different option is sold. The sold option has a different strike price and expiry date from the purchased. The spread will be constructed with either all calls or all puts on the same underlying asset.
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