Add training workflow, datasets, and runbook

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+532 Part V: Index Options and Futures 
+The key to determining whether it will be profitable to trade some derivative 
+security - options or futures - against a set of stocks is generally the level of premi­
+um in the futures contract itself. That is, if the S&P 500 Index is at 405.00 and the 
+futures are trading at 408.00, then there is a premium of 3.00 - the futures contract 
+is trading 3.00 points higher than the index itself. The absolute level of the premium 
+is not what is important, but rather the relationship between the premium and the 
+fair value of the future. We will look at how to determine fair value shortly. 
+The futures are the leaders among the derivative securities, especially the S&P 
+500 futures. Whenever these become overpriced, other derivative securities will gen­
+erally follow suit. There are also futures on the NYSE Index, the Value Line Index, 
+and the Japanese Nikkei 225 Index. Moreover, there are cash-based index options on 
+the S&P 500 Index (as opposed to the futures options on that index) and the NYSE 
+Index. These other securities would include the QEX (S&P 100) options and NYSE 
+futures and options. It follows as well that when the S&P 500 futures become under­
+priced, the other derivative securities quickly fall into line. If the other derivative 
+securities don't follow suit, then there is an opportunity for spreading one market 
+against another. That type of spreading can frequently be profitable, and is discussed 
+in the next chapter. 
+The normal scenario is for most of the derivative securities to follow the lead of 
+the S&P 500 futures. When this happens, the only thing that is fairly priced is the 
+index itself - that is, stocks. Consequently, the logical way to hedge the derivative 
+security is to do it with stocks. The small investor might hedge his own individual 
+portfolio, although that would not be a perfect hedge since his own portfolio is not 
+composed of the exact same stocks as any index. If the index is small enough, such as 
+the 30-stock DJX, then one might buy all 30 stocks and sell the futures when they are 
+overpriced. This is a complete hedge and would, in fact, be an arbitrage. In the case 
+of a larger index such as the S&P 500, it would be possible only for the most profes­
+sional traders to buy all 500 stocks, so one might buy a smaller subset of the index in 
+hopes that this smaller set of stocks will mirror the performance of the index well 
+enough to simulate having bought the entire index. We take in-depth looks at both 
+types of hedging. 
+Even if the investor is not planning to use these hedging strategies, it is impor­
+tant for him to understand how they work These strategies have certain ramifications 
+for the way the entire stock market moves. In order to anticipate these movements, 
+a working knowledge of these hedging strategies is necessary. The first thing that one 
+must know in order to implement any of these hedging strategies is how to determine 
+the fair value of a futures contract.