Add training workflow, datasets, and runbook

training_data/curated/text/6afd7b9a6569c8375faac557ad4c4b1b6dbb9dae1b549bde68aa3701920a8629.txt

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+208  •   The Intelligent Option Investor
+Straddle
+GREEN
+Downside: Undervalued
+Upside: Undervalued
+Execute: Simultaneously buy an ATM put and an ATM call
+Risk: Amount of premium paid
+Reward: Unlimited?
+The Gist
+I include the straddle here for completeness sake. I have not included a 
+lot of the fancier multioption strategies in this book because I have found 
+them to be more expensive than they are worth, especially for someone 
+with a definite directional view on a security. However, the straddle is re-
+ferred to commonly and is deceptively attractive, so I include it here to 
+warn investors against its use, if for no other reason.
+The straddle shares many similarities with the strangle, of course, but 
+straddles are enormously expensive because you are paying for every pos-
+sible price the stock will move to over the term of the options. For example, 
+I just looked up option prices for BlackBerry (BBRY), whose stock was 
+trading at $9.00. For the 86 days to expiry, $9-strike calls (delta = 0.56) and 
+$9-strike puts (delta = –0.44) were priced at $1.03 and $1.13, respectively.