A horizontal spread, also known as a calendar spread, is a combination of a long and a short position in two contracts of the same type (call or put) and strike, but with different expiration dates.
Horizontal spreads can be used to capture the profit when you predict volatilities will rise or fall.
See also vertical spreads, bull calendar spread and diagonal spread.
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The screenshot shows the following portfolio:
European put struck at 8.000 with expiry in 90 days
European put struck at 8.000 with expiry in 30 days
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