A common-path spatial phase shifting digital speckle pattern shearing interferometry setup is introduced for simultaneous measurement of in-plane and out-plane strain components under dynamic loading using two laser beams with different wavelengths that symmetrically illuminate the test object and a single detector. The simplicity, stability, and efficiency of the arrangement are provided by using a glass plate as a shearing device, which is capable of tuning the sensitivity continuously. The phase is recovered from a single frame by the Fourier method. In this setup, the spatial carrier frequencies can be adjusted independent of the amount of the lateral shear. Ultimately, the desired field of view can easily be achieved by simple imaging optics. To validate the feasibility and the flexibility of our technique, the proposed setup is used to evaluate the in-plane and out-plane strain maps of an aluminum plate, which is deformed under dynamic stress in its plane. The temporal phase stability of the proposed system is also investigated.