Calendar Spread Strategy: The Forward Volatility Play Nobody Talks About
You bought a calendar spread because options education told you it was a theta trade. Time decay on the front month works in your favor, they said. Then implied volatility
Implied Volatility in Options Trading: What It Actually Is (and What It Isn't)
Your options lost money because you treated implied volatility as a forecast. Everyone does at some point. You saw IV at 50% and assumed the market expected a 50% annualized