/spread-analysis

name: spread-analysis
description: Analyze option spread strategies like vertical spreads, iron condors, straddles, strangles. Use when user asks about spreads, multi-leg strategies, vertical spread, iron condor, straddle, strangle, or strategy analysis.
dependencies: ["trading-skills"]

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.

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

Strategies and Options

**Vertical Spread** (bull/bear call/put spread):

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):

uv run python scripts/spreads.py AAPL --strategy straddle --expiry 2026-01-16 --strike 180

**Strangle** (long call + long put at different strikes):

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):

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.