Add training workflow, datasets, and runbook

training_data/curated/text/b64adf8aef4a2313f9e5daf2efff368aebe4bda42054cb2cd3fa9d5bcfa30cf8.txt

@@ -0,0 +1,32 @@
+Delta
+The five figures commonly used by option traders are represented by Greek
+letters: delta, gamma, theta, vega, rho. The figures are referred to as option
+greeks. Vega, of course, is not an actual letter of the greek alphabet, but in
+the options vernacular, it is considered one of the greeks.
+The greeks are a derivation of an option-pricing model, and each Greek
+letter represents a specific sensitivity to influences on the option’s value. To
+understand concepts represented by these five figures, we’ll start with delta,
+which is defined in four ways:
+1. The rate of change of an option value relative to a change in the
+underlying stock price.
+2. The derivative of the graph of an option value in relation to the stock
+price.
+3. The equivalent of underlying shares represented by an option
+position.
+4. The estimate of the likelihood of an option expiring in-the-money. 1
+Definition 1 : Delta (Δ) is the rate of change of an option’s value relative
+to a change in the price of the underlying security. A trader who is bullish
+on a particular stock may choose to buy a call instead of buying the
+underlying security. If the price of the stock rises by $1, the trader would
+expect to profit on the call—but by how much? To answer that question, the
+trader must consider the delta of the option.
+Delta is stated as a percentage. If an option has a 50 delta, its price will
+change by 50 percent of the change of the underlying stock price. Delta is
+generally written as either a whole number, without the percent sign, or as a
+decimal. So if an option has a 50 percent delta, this will be indicated as
+0.50, or 50. For the most part, we’ll use the former convention in our
+discussion.
+Call values increase when the underlying stock price increases and vice
+versa. Because calls have this positive correlation with the underlying, they
+have positive deltas. Here is a simplified example of the effect of delta on
+an option: