Diagonal Debit Spread

Also known as "diagonal calendar spread".
May be Bullish or Bearish Depending on Type and Strikes Used.
Sell In-the-Money, At-the-Money, or Out-of-the-Money Call or Put; Buy the same type of Option at a Different Strike but in a Farther Out Month.

Strategy Type:Bullish or Bearish
Time Decay Effect:Positive
Increasing IV Effect:Positive
Profit/Loss by Change in Underlying Common Price

diagonal debit spread