Weekly-Long Diagonals โ€” Call & Put (the calendar family)

Buy a weekly long option (call & put), then sell shorter shorts against it and roll. Four layouts in the tabs โ€” the first two are the real, Tardis-validated variants from our 3-family vs-0DTE comparison; the last two are model-only daily-0DTE versions (M2 can't price 0DTE shorts, so don't trust their numbers).

How to read
  • The metric differs per tab (shown in the green bar): the real tabs are % of notional (matches the chart); the model tabs are % of long premium. Don't compare the two metrics directly.
  • M2 = model (2024+, by-year columns). Tardis = real 2026 marks. Ret/DD high = flat.
  • โ˜… = best variant in that tab. Green = good, red = negative.

Metric: % of notional (real ledgers). Best book (L3-S2-atm): Total +121 ยท 2024 +91 / 2025 +10 / 2026 +20 ยท real Tardis 2026: +20 (call +11 / put +9).

Combined book โ€” CALL + PUT

CALL side โ€” by variant โ˜… = best

variantWeeksAvg / weekTotalWin %Ret/DD202420252026Tardis avgTardis n
L3-S2-atm โ˜…122+0.55+6782%5.9+47+10+10+0.6716
L4-S2-atm122+0.47+5780%4.5+34+12+11+0.6816
L3-S2-itm1122+0.50+6282%5.8+43+10+9+0.5716
L4-S2122+0.38+4673%3.2+23+11+12+0.6816
L4-S2-itm1122+0.44+5474%4.6+31+11+11+0.6816
L2-S1-atm122+0.47+5775%4.4+31+14+12+0.8216

PUT side โ€” by variant

variantWeeksAvg / weekTotalWin %Ret/DD202420252026Tardis avgTardis n
L3-S2-atm โ˜…122+0.44+5480%3.6+44-0+10+0.6015
L4-S2-atm122+0.48+5974%3.5+47-0+13+0.8615
L3-S2-itm1122+0.43+5281%3.7+43+1+8+0.5915
L4-S2122+0.55+6771%6.4+47+12+8+0.5315
L4-S2-itm1122+0.48+5973%3.7+46+1+12+0.8515
L2-S1-atm122+0.44+5376%3.4+34+5+14+0.6816

Week-by-week โ€” best variant (L3-S2-atm)

Week (Fri)BTC spotCallPutCombinedCum
2024
2024-01-05$43,774+3.40-4.89-1.49-1.5
2024-01-12$46,002+0.05+0.07+0.11-1.4
2024-01-19$41,286-2.30+1.07-1.23-2.6
2024-01-26$39,970+1.07+0.64+1.70-0.9
2024-02-02$43,098+0.07+0.73+0.80-0.1
2024-02-09$46,222-1.01+1.28+0.27+0.2
2024-02-16$51,767-3.09+0.92-2.18-2.0
2024-02-23$50,928+2.32+2.75+5.06+3.1
2024-03-01$61,454+2.59+3.20+5.79+8.9
2024-03-08$67,288+2.79+3.27+6.06+14.9
2024-03-15$68,439+0.82+3.15+3.97+18.9
2024-03-22$66,191+3.87+2.64+6.51+25.4
2024-03-29$69,819-0.15+3.03+2.88+28.3
2024-04-05$66,930+0.31-2.89-2.58+25.7
2024-04-12$70,778+2.45+2.21+4.66+30.4
2024-04-19$64,552+0.92-0.31+0.61+31.0
2024-04-26$64,273-1.05-2.31-3.35+27.6
2024-05-03$59,180+1.65+1.16+2.81+30.4
2024-05-10$63,070+0.89+1.41+2.31+32.7
2024-05-17$66,382+1.14+1.02+2.16+34.9
2024-05-24$67,172-0.29+1.21+0.92+35.8
2024-05-31$68,183+2.40-1.81+0.59+36.4
2024-06-07$71,118+0.66+1.22+1.88+38.3
2024-06-14$66,916+0.51+0.45+0.96+39.2
2024-06-21$64,209+0.54+0.11+0.65+39.9
2024-06-28$61,344+0.43-4.18-3.75+36.1
2024-07-05$54,401+0.41+0.87+1.28+37.4
2024-07-12$57,097+1.61+1.38+2.98+40.4
2024-07-19$63,715+2.49+2.01+4.50+44.9
2024-07-26$66,913+0.84+0.91+1.75+46.6
2024-08-02$64,158+1.18+1.84+3.02+49.7
2024-08-09$60,875+0.48+1.80+2.27+51.9
2024-08-16$58,457+2.49+1.16+3.65+55.6
2024-08-23$61,075+0.58+0.41+0.99+56.6
2024-08-30$59,268+0.73-0.22+0.51+57.1
2024-09-06$55,792+0.63+1.17+1.80+58.9
2024-09-13$58,118+1.36+1.03+2.40+61.3
2024-09-20$63,528+2.05-1.50+0.55+61.8
2024-09-27$65,473+0.82+1.15+1.97+63.8
2024-10-04$61,436-2.50+1.12-1.38+62.4
2024-10-11$60,674+0.60+1.17+1.77+64.2
2024-10-18$67,980+0.97+1.04+2.01+66.2
2024-10-25$67,547+0.59+1.26+1.85+68.0
2024-11-01$69,283+1.70+1.34+3.04+71.1
2024-11-08$76,178+1.91+1.65+3.56+74.6
2024-11-15$87,650-2.50+0.76-1.74+72.9
2024-11-22$99,232+0.76+0.52+1.29+74.2
2024-11-29$95,649+1.33+1.50+2.83+77.0
2024-12-06$98,153+1.98+1.32+3.31+80.3
2024-12-13$100,127+1.46+1.44+2.90+83.2
2024-12-20$97,825+1.71+2.48+4.19+87.4
2024-12-27$95,116+2.12+1.38+3.50+90.9
2025
2025-01-03$96,334-2.00+2.01+0.01+90.9
2025-01-10$94,498+2.16+1.96+4.12+95.1
2025-01-17$101,450+0.74+1.54+2.29+97.3
2025-01-24$105,042+0.90+0.59+1.49+98.8
2025-01-31$104,186+1.01+0.42+1.43+100.3
2025-02-07$96,749+1.24+1.01+2.25+102.5
2025-02-14$96,942+1.57-2.00-0.43+102.1
2025-02-21$98,180-5.69-8.50-14.19+87.9
2025-02-28$79,204-5.64-3.28-8.91+79.0
2025-03-07$88,362+0.60-1.30-0.70+78.3
2025-03-14$82,162+1.16+0.70+1.86+80.1
2025-03-21$83,944+1.74+1.17+2.91+83.1
2025-03-28$85,216+0.87+0.64+1.50+84.6
2025-04-04$84,001-0.04+1.67+1.63+86.2
2025-04-11$81,258+0.49+0.85+1.35+87.5
2025-04-18$84,670+1.36+1.18+2.54+90.1
2025-04-25$93,759+0.98+1.16+2.14+92.2
2025-05-02$96,323+1.10+1.19+2.29+94.5
2025-05-09$103,610-0.19+0.69+0.51+95.0
2025-05-16$103,673-2.40-1.67-4.07+90.9
2025-05-23$110,703+0.76+1.00+1.76+92.7
2025-05-30$105,005+0.57+1.66+2.23+94.9
2025-06-06$103,102+1.30+0.71+2.01+97.0
2025-06-13$104,825+1.26+0.73+1.99+98.9
2025-06-20$105,761+0.37+0.44+0.81+99.8
2025-06-27$106,824+0.43+0.54+0.97+100.7
2025-07-04$108,647+0.96+0.70+1.66+102.4
2025-07-11$117,546+1.26-0.79+0.47+102.8
2025-07-18$119,420+0.72+0.99+1.71+104.6
2025-07-25$115,313+0.41+0.71+1.13+105.7
2025-08-01$115,016+0.12+0.56+0.68+106.4
2025-08-08$116,778+1.49-2.07-0.59+105.8
2025-08-15$118,963+0.38+0.52+0.90+106.7
2025-08-22$113,055-0.13+0.09-0.04+106.6
2025-08-29$109,976+0.26+0.49+0.76+107.4
2025-09-05$112,907+0.57+0.71+1.28+108.7
2025-09-12$115,060+0.99-1.22-0.22+108.4
2025-09-19$116,854-6.15-2.90-9.05+99.4
2025-09-26$109,239+0.95+0.74+1.70+101.1
2025-10-03$119,628+1.06-1.17-0.10+101.0
2025-10-10$120,896-1.40-3.60-5.00+96.0
2025-10-17$105,575-1.19+0.83-0.35+95.6
2025-10-24$111,006+0.74+0.65+1.39+97.0
2025-10-31$109,401+1.10+1.44+2.54+99.6
2025-11-07$101,965+0.76+1.00+1.76+101.3
2025-11-14$97,086-3.80-5.97-9.77+91.6
2025-11-21$84,000+1.00+0.85+1.85+93.4
2025-11-28$90,850+1.74+1.22+2.96+96.4
2025-12-05$92,220+0.60-0.34+0.26+96.6
2025-12-12$92,380+1.02-0.06+0.96+97.6
2025-12-19$87,910+1.04+0.76+1.80+99.4
2025-12-26$88,446+0.81+0.65+1.46+100.9
2026
2026-01-02$88,827+0.61+0.73+1.34+102.2
2026-01-09$90,706-1.46-3.38-4.83+97.4
2026-01-16$95,626+0.38+0.59+0.97+98.3
2026-01-23$89,478+0.66+0.99+1.65+100.0
2026-01-30$82,755+1.87-0.06+1.81+101.8
2026-02-06$64,810+0.60+1.12+1.72+103.5
2026-02-13$66,187+1.56+0.92+2.48+106.0
2026-02-20$67,800-0.62+0.84+0.22+106.2
2026-02-27$67,651+1.10+1.22+2.31+108.5
2026-03-06$71,026+0.91+0.95+1.86+110.4
2026-03-13$71,587+0.94+0.49+1.44+111.8
2026-03-20$70,822+0.75+0.44+1.19+113.0
2026-03-27$68,507-1.77+1.35-0.42+112.6
2026-04-03$67,015+0.98+0.78+1.77+114.4
2026-04-10$71,464+1.34+0.94+2.28+116.7
2026-04-17$75,044+1.75+0.69+2.44+119.1
2026-04-24$77,623+0.23+0.57+0.80+119.9
2026-05-01$77,104+0.45+0.46+0.91+120.8
Source: run_calendar_detail.py + real ledgers diagonal_cal2w/v2. PnL = โˆ’long_debit + long_intrinsic + ฮฃ(short_credit โˆ’ short_intrinsic); intrinsics from clean OHLC bars; causal. Real tabs use % of notional (pnl/spot0); model tabs use % of long premium (pnl/long_debit).