Add training workflow, datasets, and runbook

training_data/curated/text/50aaaec998dc9d87584ecaaa19c896af79645e66a3d8eab0e2de82a8ade5bedd.txt

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+Cl,apter 3: Call Buying 111 
+TABLE 3-2. 
+Comparison of the four alternative strategies. 
+If the underlying stock then. . . The best tactic was. . . And the worst tactic was ... 
+continues to rise dramatic­
+ally ... 
+"roll up" 
+rises moderately above the do nothing 
+next strike ... 
+remains relatively unchanged . .. spread 
+falls back below the original liquidate 
+strike ... 
+TABLE 3-3. 
+Results at expiration. 
+XYZ Price at "Roll-up" "Do Nothing" 
+Expiration Profit Profit 
+50 or below $ 0 -$ 300(W) 
+53 0(W) 0(W) 
+56 0(W) + 300 
+60 0(W) + 700 
+63 + 600(W) + 1,000(B) 
+67 + 1,400(B) + 1,400(B) 
+70 + 2,000(B) + 1,700 
+liquidate 
+liquidate or "roll up" 
+"roll up" 
+do nothing 
+"Spread" 
+Profit 
+$ 0 
++ 300 
++ 600(B) 
++ 1,000(B) 
++ 1,000(B) 
++ 1,000 
++ 1,000 
+Liquidating 
+Profit 
++$600(B) 
++ 600(B) 
++ 600(B) 
++ 600 
++ 600(W) 
++ 600(W) 
++ 600(W) 
+Note that each of the four tactics proves to be the best tactic in one case or another, 
+but that the spread tactic is never the worst one. Tables 3-2 and 3-3 represent the 
+results from holding until expiration. For those who prefer to see the actual numbers 
+involved in making these comparisons between the four tactics, Table 3-3 summa­
+rizes the potential profits and losses of each of the four tactics using the prices from 
+the example above. 'W" indicates that the tactic is the worst one at that price, and 
+"B" indicates that it is the best one. 
+There are, of course, modifications that an investor might make to any of these 
+tactics. For example, he might decide to sell out half of his long call position, recov­
+ering a major part of his original cost, and continue to hold the remainder of the long 
+calls. This still leaves room for further appreciation.