Add training workflow, datasets, and runbook

training_data/curated/text/10fba481d5175466ad9373100a82b1280c92526cf0017c85f90a36b458ce10ad.txt

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+Gopter 6: Ratio Call Writing 
+FIGURE 6-3. 
+Variable ratio write (trapezoidal hedge). 
++$600 
+C: 
+i $ 
+al 
+"' "' .3 
+5 
+;t: 
+e 
+0. 
+$0 
+Stock Price at Expiration 
+Points of maximum profit = Total option premiums + Lower 
+striking price - Stock price 
+Downside break-even point = Lower striking price - Points of 
+maximum profit 
+Upside break-even point = Higher striking price + Points of 
+maximum profit 
+157 
+Substituting the numbers from the example above will help to verify the formula. 
+The total points of option premium brought in were 11 (8 for the October 60 and 3 
+for the October 70). The stock price was 65, and the striking prices involved were 60 
+and 70. 
+Points of maximum profit = 11 + 60 - 65 = 6 
+Downside break-even point= 60- 6 = 54 
+Upside break-even point= 70 + 6 = 76 
+Thus, the break-even points as computed by the formula agree with Table 6-5 and 
+Figure 6-3. Nate that the formula applies only if the stock is initially between the two 
+striking prices and the ratio is 2:1. If the stock is above both striking prices, the for­
+mula is not correct. However, the writer should not be attempting to establish a vari­
+able ratio write with two in-the-money calls.