Add training workflow, datasets, and runbook

training_data/curated/text/571e01f90f00e2b7ce2f577cca1261162939cdcba750b8f1680b4f7eab9aa58f.txt

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+FIGURE 8-1. 
+Bear spread • 
+. § +$200 
+"it! -~ 
+w 
+CJ) 30 ig 
+..J 
+0 
+:!: 
+e a. -$300 
+Part II: Call Option Strategies 
+Stock Price at Expiration 
+The break-even point, maximum profit potential, and investment required are 
+all quite simple computations for a bear spread. 
+Maximum profit potential== Net credit received 
+Break-even point== Lower striking price + Amount of credit 
+Maximum Collateral investment = = risk required 
+Difference in 
+striking prices 
+Credit + Commissions received 
+In the example above, the net credit received from the sale of the October 30 
+call at 3 and the purchase of the October 35 call at 1 was two points. This is the max­
+imum profit potential. The break-even point is then easily computed as the lower 
+striking price, 30, plus the amount of the credit, 2, or 32. The risk is equal to the 
+investment. It is the difference between the striking prices - 5 points - less the net 
+credit received - 2 points - for a total investment of 3 points plus commissions. Since 
+this spread involves a call that is not "covered" by a long call with a striking price 
+equal to or lower than that of the short call, some brokerage firms may require a 
+higher maintenance requirement per spread than would be required for a bull 
+spread. Again, since a spread must be done in a margin account, most brokerage 
+firms require that a minimum amount of equity be in the account as well. 
+Since this is a credit spread, the investor does not really "spend" any dollars to 
+establish the spread. The investment is really a reduction in the buying power of the 
+customer's margin account, but it does not actually require dollars to be spent when 
+the transaction is initiated.