We demonstrate a spin diode consisting of a semiconductor-free nanoscale Fe/MgO-based double tunnel junction. The device exhibits a near perfect spin-valve effect combined with a strong diode effect. The mechanism consistent with our data is resonant tunneling through discrete states in the middle ferromagnetic layer sandwiched by tunnel barriers of different spin-dependent transparency. The observed magnetoresistance is a record high>1000%, essentially making the structure an on/off spin switch. This, combined with the strong diode effect, approximately 100, demonstrates a new device principle, promising for memory and reprogrammable logic applications.