Add training workflow, datasets, and runbook

training_data/curated/text/af22aa69a8c9167ceabc200a22a37e44cd12db00aa755d3c37b79b42e926145f.txt

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+spread and a gamma of −0.72, one might think that his delta would increase
+to 0.90 with Bed Bath & Beyond a dollar lower (18 − [−0.072 × 1.00]). But
+because a week has passed, his delta would actually get somewhat more
+positive. The shorter-term call’s delta will get smaller (closer to zero) at a
+faster rate compared to the longer-term call because it has less time to
+expiration. Thus, the positive delta of the long-term option begins to
+outweigh the negative delta of the short-term option as time passes.
+In this scenario, Richard would have almost broken even because what
+would be lost on stock price movement, is made up for by theta gains.
+Richard can sell about 100 shares of Bed Bath & Beyond to eliminate his
+immediate directional risk and stem further delta losses. The good news is
+that if Bed Bath & Beyond declines more after this hedge, the profit from
+the short stock offsets losses from the long delta. The bad news is that if
+BBBY rebounds, losses from the short stock offset gains from the long
+delta.
+After Richard’s hedge trade is executed, his delta would be zero. His
+other greeks remain unchanged. The idea is that if Bed Bath & Beyond
+stays at its new price level of $56.50, he reaps the benefits of theta
+increasing with time from $18 per day. Richard is accepting the new price
+level and any profits or losses that have occurred so far. He simply adjusts
+his directional exposure to a zero delta.