---
id: staskh/trading_skills/spread-analysis
version: "8d2ee20d"
license: MIT
install: manual
updated: 2026-07-20
---

# spread-analysis — Spread Analysis evaluates complex option strategies across multiple legs, calculating net cost, maximum profit and loss, breakeven points, and probability of profit. It supports vertical spreads, iron condors, straddles, and strangles, helping traders understand risk exposure and strategy appropriateness.

Publisher: staskh · Stars: 299 · Updated: 2026-07-20

Install (manual): `git clone https://github.com/staskh/trading_skills`

## SKILL.md

# Spread Analysis

Analyze multi-leg option strategies.

## Instructions

> **Note:** If `uv` is not installed or `pyproject.toml` is not found, replace `uv run python` with `python` in all commands below.

```bash
uv run python scripts/spreads.py SYMBOL --strategy STRATEGY --expiry YYYY-MM-DD [options]
```

## Strategies and Options

**Vertical Spread** (bull/bear call/put spread):
```bash
uv run python scripts/spreads.py AAPL --strategy vertical --expiry 2026-01-16 --type call --long-strike 180 --short-strike 185
```

**Straddle** (long call + long put at same strike):
```bash
uv run python scripts/spreads.py AAPL --strategy straddle --expiry 2026-01-16 --strike 180
```

**Strangle** (long call + long put at different strikes):
```bash
uv run python scripts/spreads.py AAPL --strategy strangle --expiry 2026-01-16 --put-strike 175 --call-strike 185
```

**Iron Condor** (sell strangle + buy wider strangle):
```bash
uv run python scripts/spreads.py AAPL --strategy iron-condor --expiry 2026-01-16 --put-short 175 --put-long 170 --call-short 185 --call-long 190
```

## Output

Returns JSON with:
- `strategy` - Strategy name and legs
- `cost` - Net debit or credit
- `max_profit` - Maximum potential profit
- `max_loss` - Maximum potential loss
- `breakeven` - Breakeven price(s)
- `probability` - Estimated probability of profit (based on IV)

Explain the risk/reward and when this strategy is appropriate.

## Dependencies

- `pandas`
- `yfinance`


## Timezone

All timestamps and time-based calculations must use the `America/New_York` timezone. All JSON output must include `generated_at` (NY time string) and `data_delay` fields.

[View on SkillFed](https://skillfed.io/staskh/trading_skills/spread-analysis) · [View on GitHub](https://github.com/staskh/trading_skills)