Add training workflow, datasets, and runbook

training_data/curated/text/7c89994843fc3cc91fdf04d852cc21d4167c159fc19462ba5b899426de17278d.txt

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+216  •   The Intelligent Option Investor
+Portfolio Management
+As we have discussed, the best percentage returns on short-put investments 
+come from the sale of short-tenor ATM options. I find that each quarter there 
+are excellent opportunities to find a fairly constant stream of this type of short-
+term bet that, when strung together in a portfolio, can generate annualized 
+returns in the high-single-digit to low-teens percentage range. This level of 
+returns—twice or more the yield recently found on a high-quality corporate 
+bond portfolio and closer to the bond yield on highly speculative small com-
+panies with low credit ratings—is possible by investing in strong, high-quality 
+blue chip stocks. In my mind, it is difficult to allocate much money to corpo-
+rate bonds when this type of alternative is available.
+Some investors prefer to sell puts on stocks that are not very vola-
+tile or that have had a significant run-up in price,
+4 but if you think about 
+how options are priced, it is clear that finding stocks that the market 
+perceives as more volatile will allow you to generate higher returns. Y ou 
+can confirm this by looking at the diagrams of a short-put investment 
+given two different volatility scenarios. First, a diagram in which implied 
+volatility is low:
+Advanced Building Corp. (ABC)
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+5/18/2012 5/20/2013 249 499 749 999
+Date/Day Count
+Stock Price
+RED