Add training workflow, datasets, and runbook

training_data/curated/text/b6bcff395c0ea53b5c7a6a154f47d8ff244cff4e124810dd54e51221de5e6d88.txt

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+condor’s expiring profitable, but there are a few adjustments that need to be
+made.
+First, because with an iron condor the idea is to profit from net short
+option premium, it usually makes more sense to sell shorter-term options to
+profit from higher rates of time decay. This entails trading condors
+composed of one- or two-month options. The IV needs to be deannualized
+and converted to represent the standard deviation of the underlying at
+expiration.
+The first step is to compute the one-day standard deviation. This is found
+by dividing the implied volatility by the square root of the number of
+trading days in a year, then multiplying by the square root of the number of
+trading days until expiration. The result is the standard deviation (σ) at the
+time of expiration stated as a percent. Next, multiply that percentage by the
+price of the underlying to get the standard deviation in absolute terms.
+The formula 2 for calculating the shorter-term standard deviation is as
+follows:
+This value will be added to or subtracted from the price of the underlying
+to get the price points at which the approximate standard deviations fall.
+Consider an example using options on the Standard & Poor’s 500 Index
+(SPX). With 50 days until expiration, the SPX is at 1241 and the implied
+volatility is 23.2 percent. To find strike prices that are one standard
+deviation away from the current index price, we need to enter the values
+into the equation. We first need to know how many actual trading days are
+in the 50-day period. There are 35 business days during this particular 50-
+day period (there is one holiday and seven weekend days). We now have all
+the data we need to calculate which strikes to sell.
+The lower standard deviation is 1134.55 (1241 − 106.45) and the upper is
+1347.45 (1241 + 106.45). This means there would be about a 68 percent
+chance of SPX ending up between 1134.55 and 1347.45 at expiration. In
+this example, to have about a two-thirds chance of success, one would sell
+the 1135 puts and the 1350 calls as part of the iron condor.