Add training workflow, datasets, and runbook

training_data/curated/text/3b23e8b510bca3c194ee07594a56fc2de5a4ea6d358d4c970eb873e2972e3afc.txt

@@ -0,0 +1,21 @@
+When comparing Exhibit 4.5 to Exhibit 4.3 , it’s easy to see that as the
+time value of the option declines, so does Kim’s exposure to vega. As time
+passes, vega gets smaller. And as the call becomes more in- or out-of-the-
+money, vega gets smaller. Since she plans to hold the position for around
+three weeks, she is not concerned about small fluctuations in IV in the
+interim.
+If indeed the rise in price that Kim anticipates comes to pass, vega
+becomes even less of a concern. With 23 days to expiration and DIS at $37,
+the call value is 2.21. The vega is $0.018. If IV decreases as the stock price
+rises—a common occurrence—the adverse effect of vega will be minimal.
+Even if IV declines by 5 points, to a historically low IV for DIS, the call
+loses less than $0.10. That’s less than 5 percent of the new value of the
+option.
+If dividend policy changes or the interest rate changes, the value of Kim’s
+call will be affected as well. Dividends are often fairly predictable.
+However, a large unexpected dividend payment can have a significant
+adverse impact on the value of the call. For example, if a surprise $3
+dividend were announced, owning the stock would become greatly
+preferable to owning the call. This preference would be reflected in the call
+premium. This is a scenario that an experienced trader like Kim will realize
+is a possibility, although not a probability. Although she knows it can