-This trade is set up as a credit spread with the short call in the near month closer to the money and a long call the next month out usually one to two strikes above the short call.  The trade is a diagonal because it is a two legged position with the options at different strikes and different expiration months.  The trade will profit anywhere below the breakeven of the near month short call plus the credit from the spread  and possible long call appreciation.  Volatility crush on the back month call will reduce the breakeven point above the short call strike price so it is best to pay attention to the implied volatility of the long call when setting up the trade.  The fact that the back month call is further OTM should mitigate some of that risk because the Vega is less.  Review the risk graph and you should gain further understanding of the risk and reward of the strategy.  Best, Robin

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