Add training workflow, datasets, and runbook

training_data/curated/text/3e39131edc230a3e740793ece9dd57e397d24d0ef17e20256c0f431a5d672613.txt

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+Index   • 311
+J
+Jaguar, 103
+Joint ventures (JVs), 84–85
+JP Morgan Chase, 236–237
+K
+Kahneman, Daniel, 42, 123, 126
+Keen, Steven, 43
+Keynes, John Maynard, 263
+Kroger, 100
+K/S (see Strike–stock price ratio)
+L
+Lambda, 169–173
+Large numbers, law of, 85, 297n2 
+(Chapter 4)
+Last (option quotes), 146
+LEAPS (see Long-term equity 
+anticipated securities)
+Legs (option structure), 27
+Lehman Brothers, 264
+Lenovo, 299n5 (Chapter 5)
+Leptokurtic distribution, 45
+Leverage, 163, 282–286
+financial, 164, 197–199, 285–286
+operating (operational), 101,  
+197–199, 282–284
+(See also Investment leverage)
+Leverage ratio, 228–229
+Levered investments, portfolios with, 
+176–183
+Liabilities, hidden, 110–111
+Life insurance companies, 135
+Liquidity risk, 256, 263
+Listed look-alike option market, 6
+Literary work, options on, 5–6
+Lo, Andrew, 42
+Load, 132, 134
+Loans, call options as,  
+167–168
+Lognormal curve, 37
+Lognormal distribution,  
+36–37
+Long calls, 13, 189–201
+about, 189
+BSM cone, 189
+in long diagonals, 235–237
+portfolio management with,  
+196–201
+strike price for, 192–196
+tenor for, 190–192
+Long diagonals, 235–237
+Long puts, 201–205
+about, 201–202
+BSM cone, 201
+portfolio management with,  
+204–205
+in short diagonals, 238–240
+strike price for, 203
+tenor for, 202–203
+Long straddles, 208–209
+Long strangles, 26–27, 205–207, 209
+Long-term equity anticipated 
+securities (LEAPS), 153, 191, 
+280–281
+Loss leverage:
+conventions for, 182–183
+formula, 178–179
+with short puts, 211–212
+Losses:
+with levered vs. unlevered 
+instruments, 165–166
+locking in, 245–247
+on range of exposure, 15
+unrealized, 175–176
+(See also Realized losses)
+M
+MacKinlay, Craig, 42
+Margin calls, 168
+Margin of safety, 197–199
+Margin requirements, 211–212
+Market conditions, 59–74
+assumptions about drift and 
+dividend yield, 67
+simultaneous changes in, 67–74