Add training workflow, datasets, and runbook

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+542A COMPleTe gUIde TO THe FUTUreS MArKeT
+ Other Spread Strategies 
+ Money spreads represent only one class of option spreads. A complete discussion of option spread 
+strategies would require a substantial extension of this section—a degree of detail beyond the scope 
+of this presentation. The following are examples of some other types of spreads. 
+time spread.  A time spread is a spread between two calls or two puts with the same strike price, 
+but a diff  erent expiration date. An example of a time spread would be: long 1 August $1,300 
+gold futures call/short 1 december $1,300 gold futures call. Time spreads are more complex 
+than the other strategies discussed in this section, because the profi  t/loss profi  le at the time 
+of expiration cannot be precisely predetermined, but rather must be estimated on the basis of 
+theoretical valuation models. 
+Diagonal spread.  This is a spread between two calls or two puts that diff  er in terms of both the 
+strike price and the expiration date. An example of a diagonal spread would be: long 1 August 
+$1,200 gold futures call/short 1 december $1,250 gold futures call. In eff  ect, this type of 
+spread combines the money spread and the time spread into one trade. 
+butterfl  y spread.  This is a three-legged spread in which the options have the same expiration 
+date but diff  er in strike prices. A butterfl  y spread using calls consists of two short calls at a given 
+strike price, one long call at a higher strike price, and one long call at a lower strike price.   
+ The list of types of option spreads can be significantly extended, but the above examples 
+should be sufficient to give the reader some idea of the potential range of complexity of spread 
+Price of August gold futures at option expiration ($/oz)
+Profit/loss at expiration ($)
+1,000
+3,750
+5,000
+2,500
+0
+−1,250
+−2,500
+1,250
+1,050 1,100 1,150 1,200 1,250
+Breakeven price
+= $1,140.20
+1,300 1,350 1,400
+Futures price at time
+of position initiation
+    FIGURE   35.21    Profi  t/loss Profi  le; Bear Put Money Spread (Short Put with lower Strike Price/
+long Put with Higher Strike Price)