Add training workflow, datasets, and runbook

training_data/curated/text/4969a6adcf4d92922a65bb9e45e96458636a73b260e9ff370d3fb0ba84f954be.txt

@@ -0,0 +1,45 @@
+t,r 19: The Sale of a Put 
+ILE 19-2. 
+297 
+lculation of the potential return of uncovered put writing. 
+50 
+4 
+less commissions 
+Potential maximum profit (premium received) 
+Striking price 
+Less premium per put ($1,925/5) 
+Break-even stock price 
+Collateral required (allowing for stock to drop to 43): 
+20% of 43 
+Plus put premium 
+Requirement for 5 puts 
+Less premium received 
+Net collateral 
+Potential return: 
+Premium divided by net collateral 
+$2,000 
+75 
+$1,925 
+$50.00 
+3.85 
+46.15 
+$ 860 
++ 700 
+$1,560 
+X 5 
+$7,800 
+- 1,925 
+$5,875 
+$1,925/$5,875 = 32.8% 
+There are differences of opinion on how to compute the potential returns from 
+naked put writing. The method presented above is a more conservative one in that it 
+takes into consideration a larger collateral requirement than the initial requirement. 
+Of course, since one is not really investing cash, but is merely using the collateral 
+value of his present portfolio, it may even be correct to claim that one has no invest­
+ment at all in such a position. This may be true, but it would be impossible to com­
+pare various put writing opportunities without having a return computation available. 
+One other important feature of return computations is the return if unchanged. 
+If the put is initially out-of-the-money, the return if unchanged is the same as the 
+maximum potential return. However, if the put is initially in-the-money, the compu­
+tation must take into consideration what the writer would have to pay to buy back the 
+put when it expires.