Add training workflow, datasets, and runbook

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+222  •   The Intelligent Option Investor
+indicate on your statements that a certain proportion of your account effec-
+tively will be treated as margin. This means that you stand to receive the eco-
+nomic benefit from your diversified portfolio of securities but will not be able 
+to liquidate all of it. If the market climbs higher, a larger proportion of your 
+portfolio will be considered as margin; if it falls lower, a smaller proportion 
+of your portfolio will be considered as margin. Basically, a proportion of any 
+gains from your diversified stock portfolio will be reapportioned to serve as 
+collateral for your short call when the market is rising, and a proportion of any 
+losses from your diversified stock portfolio will be offset by a freeing of margin 
+related to your profits on the short call when the market is falling.
+Most brokers restrict the ability of individual investors to write un-
+covered calls on individual stocks, so the rest of this discussion will cover 
+the short-call spread strategy for individual stocks.
+T enor Selection
+Tenors for short-call spreads should be fairly short under the same reason-
+ing as that for short puts—one receives more time value per day for short-
+er-tenor options. Look for calls in the three- to nine-month tenor range. 
+The tenor of the purchased call (at the higher strike price) should be the 
+same as the tenor of the sold calls (at the lower strike price). Theoretically, 
+the bought calls could be longer, but it is hard to think of a valuation justifi-
+cation for such a structure. By buying a longer-tenor call for the upside leg 
+of the investment, you are expressing an investment opinion that the stock 
+will likely rise over the long term—this exactly contradicts the purpose of 
+this strategy: expressing a bearish investment opinion.
+Strike Price Selection
+Theoretically, you can choose any two strike prices, sell the call at the lower 
+price, and buy the call at the higher price and execute this investment. If you 
+sold an ITM call, you would receive premium that consists of both time and 
+intrinsic value. If the stock fell by expiration, you would realize all the wasted 
+time value plus the difference between the intrinsic value at initiation and the 
+intrinsic value at expiration.
+Despite the theory, however, in practice, the lower strike option is usually 
+sold ATM or OTM because of the threat of assignment. Assignment is the pro-
+cess the exchange goes through when investors choose to exercise the option