Add training workflow, datasets, and runbook

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+230  •   The Intelligent Option Investor
+In this case, you might choose to sell a single $195–$240 call spread, in 
+which case your maximum exposure would be $4,500 [= 1 × (240 – 195) × 100] 
+at the widest spread. This investment would have a leverage ratio of approxi-
+mately 1:1. Alternatively, you could choose to sell two $195–$220 spreads, in 
+which case your maximum exposure would be $5,000 [= 2 × (220 − 195) × 
+100], with a leverage ratio of approximately 2:1. Which choice you select will 
+depend on your assessment of the valuation of the stock, your risk tolerance, 
+and the composition of your portfolio (i.e., how much of your portfolio is al-
+located to the tech sector, in this example of an investment in IBM). Because 
+the monetary returns from a short-call or call-spread strategy are fixed and 
+the potential for losses are rather high, I prefer to execute bearish investments 
+using the long-put strategy discussed in the “Gaining Exposure” section.
+With this explanation of the short-call spread complete, we have all the 
+building blocks necessary to understand all the other strategies mentioned 
+in this book. Let’s now turn to two nonrecommended complex strategies 
+for accepting exposure—the short straddle and the short strangle—both of 
+which are included not because they are good strategies but rather for the 
+sake of completeness.
+Short Straddle/Short Strangle
+Short Straddle
+RED
+Downside: Overvalued
+Upside: Overvalued
+Execute: Sell an ATM put; simultaneously sell an ATM call spread