As I attempt to learn how to trade the term structure, a lot of my research topics are on calendar spreads. I have found a few good articles on how to trade them. But 99% of people who are advocating to trade these spreads have NO clue how to use them. "They are good for income" "You use them when you think the market will stay in the same spot" "Good to put on when volatility is low" If you would like to discuss trading the term structure and calendar spreads, I thought I would make a thread on relative value strategies with calendar spreads. They offer a great risk/reward and I think is essential in any traders tool kit. I still have a lot to learn on trading the term structure and will post my research and any interesting trades. Those who have experience with trading the term structure plz chime in.