Add training workflow, datasets, and runbook

training_data/curated/text/a3cadddf6fe2eeeb4e06013e299a2a6701dbdb53ecc3aec3e145842f75a00680.txt

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+134 
+TABLE 5-1. 
+Position at July expiration. 
+XYZ Price at Call Price at 
+Expiration Expiration 
+30 0 
+40 0 
+50 0 
+55 5 
+60 10 
+70 20 
+80 30 
+FIGURE 5-1. 
+Uncovered (naked) call write. 
++$500 
+C 
+0 
+~ ·15.. 
+X 
+w 
+cu 
+(/J 
+~ ...I 
+0 
+lt, 
+.... ...... 
+", Naked Write 
+45 SO', 
+.... .. .... .. .. Short Sale ,, 
+.. .. 
+Stock Price at Expiration 
+.. 
+Part II: Call Option Strategies 
+Profit on 
+Naked Write 
++$ 500 
++ 500 
++ 500 
+0 
+500 
+- 1,500 
+- 2,500 
+.. .... .. 
+~ 
+Moreover, the short seller pays out the dividends on the underlying stock, whereas 
+the naked call writer does not. The naked call will expire, of course, but the short sale 
+does not. This is a situation in which the naked write outperforms the short sale. 
+However, ifXYZ were to fall sharply- to 20, say- the naked writer could only make 
+5 points while the short seller would make 30 points. The dashed line in Figure 5-1 
+shows how the short sale of XYZ at 50 would compare with the naked write of the 
+July 50 call. Notice that the two strategies are equal at 45 at expiration; they both