An option trading strategy which involves selling a far-month call option and buying a near-month call in order to benefit from the accelerated time decay of the far-month option with regard to the near-month option. In other words, an investor following such a strategy will take advantage of the situation where the value of the far-month option declines by more than that of the shorter-term option.

This strategy is also known as a short calendar call spread or a short call calendar spread.