Davisra3; I suggest you open an account with something like Think or Swim. They give you a paper-trade account that works like a real-time, online account.I have traded for 25 years, and I still paper trade all the time.Calender spreads are the core of what i do.

My advice to someone new to trading options is,
learn the basics, develope a plan, stick to it.

Delta effects on Calendar spreads can be adjusted
by buying/selling the underling, but commissions
and slippage will eat most any profit you might get.

Understand IV on spread trading. When you are ready
to learn more advanced directional adjustments,
search the web for information on "Double Calendars",
"Raito Calendars" and spread combinations.

Paper trade, trade small (even on paper),
learn to control your emotions when trading.
Stick to stratagies/practices taught by Optionetics.

My quote
Enjoy Life!
It's limited. You only get as much as you take.

I am a new Optionetics student, and am experimenting (paper trading) with calendar spreads. I do not yet have Platinum.

My question is this: should one attempt to remain delta neutral on a calendar spread?

I picked a trade by "skew shopping" on ivolatility.com and came up with a Jan/April call calendar. The trade has a +8 share delta.

By sheer luck, the trade actually appeared on the free Platinum demo at yahoo finance, so I was able to print a risk graph.

I grade my trade plan as "incomplete" in that I don't have sufficient rules (or knowledge) on delta neutral hedging.

As time passes, and XYZ moves toward or away from the option strike, should I be adjusting shares based on:

A. a set interval in schedule,
B. a set change in delta,
C. a set change in price of XYZ, or
D. an integer number of shares
E. leave the trade open without adjustment

Since this is a paper trade, I'll probably adjust on "whole" shares (conveniently ignoring commissions in the name of self-education. That's as close to a scholarship as I'll ever get...)

Any insights out there on hedging calendars?

I'll end with a favorite quote...

Never be caught without an opinion or a list.