Nov 12 2020 26 mins 6
Diagonal Spreads, or [Poor Man’s Covered Calls/Covered Puts,](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/the-poor-mans-version-covered-calls-covered-puts-02-21-2017 ) can be extremely effective for playing direction, across multiple expiration cycles, in low volatility environments. But given the flexibility of the [different expiration dates,](https://www.tastytrade.com/tt/shows/from-theory-to-practice/episodes/diet-time-value-09-20-2017 ) their management can be a bit more challenging and less straightforward than some other strategies. So today, we use our PEP Poor Man’s Covered Call to dissect what to consider with your Diagonal Spread profit targets.
