Ended up paying $0.02 for the double diagonal calendar spread we were discussing in the TGT earnings thread instead of getting it for a credit - the price for being 2 days late to an idea… It’s a combo of two calendar spreads, and one of them will expire worthless.
Risking $102 for up to theoretical max profit of $267, but realistically (based on previous rounds with these diagonal) will close if I get 50% or so. The profit frontier is below. This is also a positive vega play - as IV goes up into earnings, profits should increase.
