Quotes of the day:
I\'m in favor of legalizing drugs. According to my values system, if people want to kill themselves, they have every right to do so. Most of the harm that comes from drugs is because they are illegal.
A vertical spread involves the simultaneous buying and selling of options of the same type (puts or calls) and expiry, but at different strike prices. The term ‘vertical’ comes from the position of the strike prices. This is in contrast to a calendar spread, which is the simultaneous purchase and sale of the same option type with the same strike price, but different expiration dates.