Quote from cdcaveman:
i'd be looking to buy the spread, meaning go short the front long the back... just to get it right for the sake of future speaking..
buying a calender is -1/+1
selling a calender is +1/-1
buying a calender is typically considered bearish to the underlying, depending on how close you are to the front part of the curve..
reality is you could be expressing any number of views by buying or selling spreads.. its all an expression on what you think the curve will do in the future obviously