Add training workflow, datasets, and runbook

training_data/curated/text/b8b63c8e58234815730507d9f9d20312b4bef65a00034c930a57295d1a0faf08.txt

@@ -0,0 +1,23 @@
+287
+Appendix c
+PUT-cALL PArITy
+Before the Black-Scholes-Merton model (BSM), there was no way to 
+directly calculate the value of an option, but there was a way to triangulate 
+put and call prices as long as one had three pieces of data:
+1. The stock’s price
+2. The risk-free rate
+3. The price of a call option to figure the fair price of the put, and vice 
+versa
+In other words, if you know the price of either the put or a call, as long 
+as you know the stock price and the risk-free rate, you can work out the 
+price of the other option. These four prices are all related by a specific rule 
+termed put-call parity.
+Put-call parity is only applicable to European options, so it is not ter-
+ribly important to stock option investors most of the time. The one time it 
+becomes useful is when thinking about whether to exercise early in order 
+to receive a stock dividend—and that discussion is a bit more technical. I’ll 
+delve into those technical details in a moment, but first, let’s look at the big 
+picture. Using the intelligent option investor’s graphic format employed in 
+this book, the big picture is laughably trivial.
+Direct your attention to the following diagrams. What is the differ -
+ence between the two?