Consider a portfolio of vanilla SPX monthly options that consists of two components, a SEP 2019 3000 Call and a DEC 2019 3000 Call. It's easy to graph these as they both share the same independent variable for the value of the underlying asset.

Now consider a similar portfolio, this time with E-mini S&P Futures options. These components do not share the same variable for the underlying - the SEP option uses the SEP future and the DEC option uses the DEC future. So, how can I decide on a single variable that serves as the basis for the x-axis scale so that I can view the risk profile for the portfolio?

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    $\begingroup$ These "different underlyings" are closely related. Currently Sep is 2830 and Dec is 2834. Note that 2834/2830 = 1.0014. For a quick and dirty analysis just plot Sep on the x axis and assume Dec mantains this same relationship to Sep i.e. Dec = Sep * 1.0014 This will work fine as long as dividends and interest rates do not change much, i.e. for a short term horizon. (Over the long term, however, the ratio will change). $\endgroup$ – Alex C May 27 '19 at 13:42

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