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Bull calendar spread options: how to find the setup

calendar_today May 20, 2026 person TradeStation domain tradestation

The IV term structure is telling you something. Overall implied volatility is sitting in the lower third of its 52-week range, but front-month IV is running several points above the second month on your target ticker. The stock has been grinding higher on steady volume, approaching a strike that fits your directional thesis.

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