Add training workflow, datasets, and runbook

training_data/curated/text/6decd412addc18439c5b0a3f919cf06b28805412e4df6c3a6d0e0c5abc0d582b.txt

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+698 Part V: Index Options and Futures 
+The spreader is not attempting to predict the overall direction of prices. Rather, 
+he is trying to predict the differential in prices between the July and September con­
+tracts. He doesn't care if beans go up or down, as long as the spread between July and 
+September goes his way. 
+Example: A spread trader notices that historic price charts show that if September 
+soybeans get too expensive with respect to July soybeans, the differential usually dis­
+appears in a month or two. The opportunity for establishing this trade usually occurs 
+early in the year - February or March. 
+Assume it is February 1st, and the following prices exist: 
+July soybean futures: 600 ($6.00/bushel) 
+September soybean futures: 606 
+The price differential is 6 cents. It rarely gets worse than 12 cents, and often revers­
+es to the point that July futures are more expensive than soybean futures - some 
+years as much as 100 cents more expensive. 
+If one were to trade this spread from a historical perspective, he would thus be 
+risking approximately 6 cents, with possibilities of making over 100 cents. That is 
+certainly a good risk/reward ratio, if historic price patterns hold up in the current 
+environment. 
+Suppose that one establishes the spread: 
+Buy one July future @ 600 
+Sell one September future @ 606 
+At some later date, the following prices and, hence, profits and losses, exist. 
+Futures Price 
+July: 650 
+September: 630 
+Total Profit: 
+Profit/Loss 
++50 cents 
+-24 cents 
+26 cents ($1,300) 
+The spread has inverted, going from an initial state in which September was 6 
+cents more expensive than July, to a situation in which July is 20 cents more expen­
+sive. The spreader would thus make 26 cents, or $1,300, since 1 cent in beans is 
+worth $50.