Add training workflow, datasets, and runbook

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+finance the long stock. This is proven mathematically by put-call parity.
+Negative rho indicates a bearish position on the interest rate; the trader
+wants it to go lower. Positive rho is a bullish interest rate position.
+But a one-percentage-point change in the interest rate in one day is a big
+and uncommon change. The question is: is rho relevant? That depends on
+the type of position and the type of trader. A 0.090 rho would lead to a
+0.0225 profit-and-loss (P&(L)) change per one lot conversion on a 25-basis-
+point, or quarter percent, change. That’s just $2.25 per spread. This
+incremental profit or loss, however, can be relevant to professional traders
+like market makers. They trade very large positions with the aspiration of
+making small incremental profits on each trade. A market maker with a
+5,000-lot conversion would stand to make or lose $11,250, given a quarter-
+percentage-point change in interest rate and a 0.090 rho.
+The Mind of a Market Maker
+Market makers are among the only traders who can trade conversions and
+reversals profitably, because of the size of their trades and the fact that they
+can buy the bid and sell the offer. Market makers often attempt to leg into
+and out of conversions (and reversals). Given the conversion in this
+example, a market maker may set out to sell calls and in turn buy stock to
+hedge the call’s delta risk (this will be covered in Chapters 12 and 17), then
+buy puts and the rest of the stock to create a balanced conversion: one call
+to one put to one hundred shares. The trader may try to put on the
+conversion in the previous example for a total of $0.50 over the price of the
+long stock instead of the $0.46 it’s worth. He would then try to leg out of
+the trade for less, say $0.45 over the stock, with the goal of locking in a
+$0.05 profit per spread on the whole trade.
+Reversal
+A reversal, or reverse conversion, is simply the opposite of the conversion:
+buy call, sell put, and sell (short) stock. A reversal can be executed to close
+a conversion, or it can be an opening transaction. Using the same stock and
+options as in the previous example, a trader could establish a reversal as
+follows: