Add training workflow, datasets, and runbook

training_data/curated/text/24ce3063bcdbeba8a2a7cf411e033fce5481a511b91f107b426f7dff0c5b8dc6.txt

@@ -0,0 +1,21 @@
+Futures Option Strategies for 
+Futures Spreads 
+A spread with futures is not the same as a spread with options, except that one item 
+is bought while another is simultaneously sold. In this manner, one side of the spread 
+hedges the risk of the other. This chapter describes futures spreading and offers ways 
+to use options as an adjunct to those spreads. 
+The concept of calendar spreading with futures options is covered in this chap­
+ter as well. This is the one strategy that is very different when using futures options, 
+as opposed to using stock or index options. 
+FUTURES SPREADS 
+Before getting into option strategies, it is necessary to define futures spreads and to 
+examine some common futures spreading strategies. 
+FUTURES PRICING DIFFERENTIALS 
+It has already been shown that, for any paiticular physical commodity, there are, at 
+any one time, several futures that expire in different months. Oil futures have month­
+ly expirations; sugar futures expire in only five months of any one calendar year. The 
+frequency of expiration months depends on which futures contract one is discussing. 
+Futures on the same underlying commodity will trade at different prices. The 
+differential is due to several factors, not just time, as is the case with stock options. A 
+major factor is carrying costs - how much one would spend to buy and hold the phys-
+696