Add training workflow, datasets, and runbook

training_data/curated/text/7444e1741b61ee68e1726c4eac3573a62d478ec3a6b67da0ccb720b7ae279e28.txt

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+306  •   Index
+At-the-money (ATM) options: (continued)
+long straddles, 208–209
+OTM options vs., 233–234
+protective puts, 250–251, 253
+short diagonals, 238, 240
+short puts, 215, 216
+short straddles, 230
+short-call spreads, 222–225
+AUM (assets under management), 132
+B
+Balance-sheet effects, 92, 108–111
+Behavior, efficient market hypothesis 
+as model for, 41–42
+Behavioral biases, 114–130
+overconfidence, 118–122
+pattern recognition, 114–118
+perception of risk, 123–130
+Behavioral economics, 42, 114
+Bentley, 97–98
+Berkshire Hathaway, 185
+Bernstein, Peter, 9
+Biases, behavioral (see Behavioral 
+biases)
+Bid price, 147
+Bid-ask spreads, 147–149
+Bimodal outcomes, companies with, 
+277–278
+Black, Fischer, 8–9
+BlackBerry, 208–209
+Black-Scholes-Merton (BSM) model, 9
+assumptions of, 32–33, 40–47, 78, 150
+conditions favoring, 269–273
+conditions not favoring, 273–281
+incorrect facets of, 29
+predicting future stock prices from, 
+32–39
+ranges of exposure and price 
+predictions from, 50–56
+theory of, 32
+(See also BSM cone)
+Bonds, investing in short puts vs., 
+213–214
+Booms, leverage during, 199
+Breakeven line, 25
+for call options, 15, 16
+for long strangle, 26–27
+for put options, 17, 18
+(See also Effective buy price [EBP])
+Broker-dealers, 137, 299–300n5
+Brokers, benefits of short-term trading 
+for, 64
+BSM cone:
+for call options, 50–55
+for collars, 258
+for covered calls, 240–244
+creating, 156–160
+defined, 38–39
+delta-derived, 151–155
+discrepancies between valuation and, 
+160–162
+for ITM options, 57–58
+for long calls, 189
+for long diagonals, 235
+for long puts, 201
+for long strangles, 205
+overlaying valuation range on, 160
+for protective puts, 248, 249
+for put options, 54–55
+for short diagonals, 238
+for short puts, 212, 216, 217
+for short straddles, 230
+for short strangles, 231
+for short-call spreads, 220
+with simultaneous changes in variables, 
+68–74
+and time-to-expiration assumptions, 
+64–67
+and volatility assumptions,  
+60–64
+BSM model (see Black-Scholes-Merton 
+(BSM) model)
+Bubbles, 42–43
+Buffett, Warren, xv, 184–185
+Buying options (see Exposure-gaining 
+strategies)
+Buy-side structural impediments, 
+132–136