Add training workflow, datasets, and runbook

training_data/curated/text/3bc5c89875202fc4070706a8dd23066251865ea54b0c2653b09399c149b84745.txt

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+Trading Rho
+While it’s possible to trade rho, most traders forgo this niche for more
+dynamic strategies with greater profitability. The effects of rho are often
+overshadowed by the more profound effects of the other greeks. The
+opportunity to profit from rho is outweighed by other risks. For most
+traders, rho is hardly ever even looked at.
+Because LEAPS have higher rho values than corresponding short-term
+options, it makes sense that these instruments would be appropriate for
+interest-rate plays. But even with LEAPS, rho exposure usually pales in
+comparison with that of delta, theta, and vega.
+It is not uncommon for the rho of a long-term option to be 5 to 8 percent
+of the option’s value. For example, Exhibit 7.2 shows a two-year LEAPS on
+a $70 stock with the following pricing-model inputs and outputs:
+EXHIBIT 7.2 Long 70-strike LEAPS call.
+The rho is +0.793, or about 5.8 percent of the call value. That means a 25-
+basis-point rise in rates contributes to only a 20-cent profit on the call.
+That’s only about 1.5 percent of the call’s value. On one hand, 1.5 percent is
+not a very big profit on a trade. On the other hand, if there are more rate
+rises at following Fed meetings, the trader can expect further gains on rho.
+Even if the trader is compelled to wait until the next Fed meeting to make
+another $0.20—or less, as rho will get smaller as time passes—from a
+second 25-basis-point rate increase, other influences will diminish rho’s
+significance. If over the six-week period between Fed meetings, the