Calendar Spread
An options or futures spread established by simultaneously entering a long and short position on the same underlying asset but with different delivery months. Sometimes referred to as an inter-delivery, time or horizontal spread.
Investopedia Commentary
An example of a calendar spread would be going long on a crude oil futures contract with delivery next month and going short on a crude oil futures contract whose delivery is in six months.
Related Links
Futures Fundamentals
See also: Delivery Month, Futures, Intercommodity Spread, Interdelivery Spread
calendar spread