Add training workflow, datasets, and runbook

training_data/curated/text/4abb45927ba76017134ddbf562d2ae2ec092c94b97ab8ffb448043d7869af6a2.txt

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+874 Part VI: Measuring and Trading Volatility 
+FIGURE 40· 1 O. 
+Proiected delta, in 14 days. 
+6000 
+4500 
+3000 
+Cl) 1500 ~ ro .c 
+(/) 
+0 'E 
+(1) 
+80 85 ~ ·5 -1500 
+95 
+XYZ Stock Price 
+C" 
+UJ 
+-3000 
+-4500 
+Using the example data: 
+Loss, XYZ moves from 88 to 89: -$100 (the position delta) 
+Loss, XYZ moves from 89 to 90: -$100 (delta) - $600 (gamma) 
+: -$700 
+Total loss, XYZ moves from 88 to 90: -$100 x 2 - $600 = -$800 
+This can be verified by looking at the prices of the call and put after XYZ has jumped 
+from 88 to 90. One could use a model to calculate expected prices if that happened. 
+However, there is another way. Consider the following statements: 
+If the stock goes up by 1 point, the call will then have a price of: 
+p 1 = Po + delta 
+5.505 = 5.00 + 0.505 (if XYZ goes to 89 in the example) 
+If the stock goes up 2 points, the call will have an increase of the above amount 
+plus a similar increase for the next point of stock movement. The delta for that sec­
+ond point of stock movement is the original delta plus the gamma, since gamma tells 
+one how much his delta is going to change.