Add training workflow, datasets, and runbook

training_data/curated/text/ba9d4c9dbece5f81bb14e7cee61658311c2353af3d40909a79a9a368872475b3.txt

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+314  •   Index
+Procter & Gamble, 84
+Productivity, 102
+Profit:
+from covered calls, 245
+from hedging, 254–255
+owners’ cash, 82
+percent, 172–173
+Profit leverage, 179–180, 182–183
+Profitability:
+and financial leverage, 285–286
+and operational leverage,  
+283–284
+as value driver, 92, 99–102
+Proprietary trading desks (prop 
+traders), 300n5
+Prospect theory, 123–127
+Protective puts, 248–258
+about, 248–250
+BSM cone, 248, 249
+with covered calls, 259–262
+execution of, 250–252
+pitfalls with, 252–258
+Pure Digital, 299n6 (Chapter 5)
+Put options (puts):
+BSM cone for, 54–55
+buying, for protection, 23
+defined, 11
+delta for, 151
+on quotes, 145
+selling, for income, 23
+tailoring exposure with, 24
+visual representation of, 16–18
+(See also Long puts; Protective puts; 
+Short puts)
+Put-call parity, 223, 287–293
+defined, 287–288
+and dividend arbitrage, 288–293
+for non-dividend-paying stock, 
+289–290
+Q
+Qualcomm, 260–262
+Quotes, option, 144–151
+R
+Random-walk principal, 41
+Ranges of exposure, 3
+for call options, 12–13, 15
+for ITM options, 58–59
+and option pricing, 50–56
+Rankine, Graeme, 41–42
+Ratioing, 206, 238
+Realized losses:
+and buying puts, 203
+immediate, 180, 183
+managing leverage to minimize, 
+183–185
+and option buying, 187–188
+unrealized vs., 175–176
+Recessions, leverage during, 198, 199
+Reflective thought processes, 116–118
+Reflexive thought processes, 116–118
+Return(s):
+absolute dollar value of, 172–173
+for covered calls, 244–245
+maximum, 225
+percentage, 229
+for short puts, 245
+(See also Distribution of returns)
+Revenue growth, 92, 97–99
+Risk, 263–268
+career, 263
+counterparty, 7–8
+liquidity, 256, 263
+market, 263–265
+in option investing, 267–268
+perception of, 123–130
+and size of hedges, 255–256
+solvency, 256, 263
+valuation, 265–267
+Risk-averse investors, 123, 125–127
+Risk-free rate:
+borrowing at, 32, 40, 46
+BSM model assumption about, 32, 
+35–36, 40, 45–46
+Risk-neutral investors, 124–126
+Risk-seeking investors, 123, 125–127