What greeks does a calendar spread actually isolate?
You put on a long calendar spread: sell the -month at-the-money call and buy the -month at-the-money call, same strike, on a \100$ stock.
Work out the sign of your net gamma, vega, and theta. Where does this position make its money?
Your answer
This one is open-ended. Work it through, then check your reasoning against the full solution.