Add training workflow, datasets, and runbook

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OPTION TrAdINg STrATegIeS
amount greater than the diff erence between the futures price at the time of the option sale and the
strike price. The trade will be profi table as long as the futures price at the time of the option expira-
tion is not below the strike price by more than the option premium ($10.10/oz in this example).
The short out-of-the-money put represents a less bullish posture than the short at-the-money put
tabLe 35.6b profit/Loss Calculations: Short put (Out-of-the-Money)
(1) (2) (3) (4) (5)
Futures price at
expiration ($/oz)
premium of august $1,100
put at Initiation ($/oz)
Dollar amount of
premium received
Value of put
at expiration
profit/Loss on
position [(3) (4)]
1,000 10.1 $1,010 $10,000 $8,990
1,050 10.1 $1,010 $5,000 $3,990
1,100 10.1 $1,010 $0 $1,010
1,150 10.1 $1,010 $0 $1,010
1,200 10.1 $1,010 $0 $1,010
1,250 10.1 $1,010 $0 $1,010
1,300 10.1 $1,010 $0 $1,010
1,350 10.1 $1,010 $0 $1,010
1,400 10.1 $1,010 $0 $1,010
Price of August gold futures at option expiration ($/oz)
Futures price at time
of position initiation
Breakeven price
= $1,089.90
Profit/loss at expiration ($)
1,000
10,000
2,500
2,500
5,000
7,500
0
1,050 1,100 1,150 1,200 1,250 1,300 1,350 1,400
Strike price
FIGURE  35.6b Profi t/loss Profi le: Short Put (Out-of-the-Money)