Add training workflow, datasets, and runbook

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+Chapter 28: Mathematical Applications 481 
+action point (recall that the collateral requirement increases for naked options on an 
+adverse stock movement), and the break-even points themselves. The probabilities of 
+being above the upper break-even point at expiration or below the lower break-even 
+point should be computed as well. Moreover, an expected return analysis could be 
+performed on the position to determine the general level of profitability of the posi­
+tion with respect to all other positions of the same type on other stocks. Such an 
+expected return analysis need not assume that the position is held to expiration. Firm 
+traders, paying little or no commissions, might be interested in seeing the expected 
+reswts for a holding period as short as 30 days or less. Public customers might use a 
+longer holding period, on the assumption that they would not trade the position as 
+readily because of commission costs. Ratio positions should be ranked either by 
+return if unchanged or by expected return. 
+The analyses described for calendar spreads and ratio positions should not be 
+relied upon as gospel. In the proposed forms of analysis, one is projecting future 
+option prices and stock prices under the assumption that the volatility of the under­
+lying stock will remain the same. Although this may be true in some cases, there will 
+also be many times when the volatility of the underlying stock will change during the 
+life of the position. If the volatility decreases, the projected break-even points for a 
+calendar spread will be too far away from the striking price. Thus, a loss would result 
+at some prices where the spreader expected to make money. If the volatility increas­
+es, the expected return of a ratio position will drop, because the probabilities of the 
+stock moving outside the profit range will increase, thereby increasing the probabil­
+ity ofloss. 
+The effect of a changing volatility can be counteracted, in theory, by continuing 
+to monitor the position daily after it has been established. In a straddle write, for 
+example, if the stock begins to move dramatically, the expected return may become 
+very low. If this happens, adjustments could be made to the position to improve it. 
+Such monitoring is difficult to apply in practice for the public customer, because the 
+commission costs involved in constant position adjustments would mount rapidly. 
+There is no exact method that would allow for infrequent, periodic adjustments, but 
+by using a follow-up analysis the public customer may be able to get a better feeling 
+for the timing of adjusting a position. For example, suppose that one initially wrote a 
+5-point straddle when the stock was at 30. Sometime later, the stock is at 34. The 
+expected return of writing a 5-point straddle with a strike of 30 when the stock is at 
+34 could be computed for the shorter time period remaining until expiration. If the 
+expected return is negative, an adjustment needs to be made. Adopting this form of 
+adjusting would keep the number of trades to a minimum, but would still allow the 
+strategist to determine when his position has become improperly balanced. Of 
+course, the current volatility would be used in making these determinations. Another