Calendar Spread
Definition: Applies to derivative products. A strategy in which there is a simultaneous purchase and sale of options of the same class at the same strike prices, but with different expiration date.

Calendar Spread
Definition:

(1) The purchase of one delivery month of a given futures contract and simultaneous sale of a different delivery month of the same futures contract;

(2) the purchase of a put or call option and the simultaneous sale of the same type of option with typically the same strike price but a different expiration date. Also called a Horizontal Spread or Time Spread.