Add training workflow, datasets, and runbook

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+206  •   The Intelligent Option Investor
+avoid this extreme downside are worth much more than they are presently 
+trading at.
+The entire premium paid must be treated as a realized loss because 
+it can never be recovered. If the stock fails to move into one of the areas 
+of exposure before option expiration, there will be no profit to offset this 
+realized loss.
+There is no reason why you have to buy puts and calls in equal num-
+bers. If you believe that both upside and downside scenarios are materially 
+possible but believe that the downside scenario is more plausible, you can 
+buy more puts than calls. This is called ratioing a position. 
+T enor Selection
+Because the strangle is a combination of two strategies we have already 
+discussed, the considerations regarding tenor are the same as for each of 
+the components—that is, using the drift advantage in long-term equity an-
+ticipating securities (LEAPS) and buying them or the longest-tenor calls 
+available and balancing the fight against drift and the cost of rolling and 
+buying perhaps shorter-tenor puts.
+Strike Price Selection
+A strangle is slightly different in nature from its two components—long 
+calls and long puts. A strangle is an option investor’s way of expressing 
+the belief that the market in general has underestimated the intrinsic 
+uncertainty in the valuation of a firm. Options are directional instru-
+ments, but a strangle is a strategy that acknowledges that the investor 
+has no clear idea of which direction a stock will move but only that 
+its future value under different scenarios is different from its present 
+market price.
+Because both purchased options are OTM ones, this implies, in my 
+mind, a more speculative investment and one that lends itself to taking 
+profit on it before expiration. Nonetheless, my conservatism forces me to 
+select strike prices that would allow a profit on the entire position if the 
+stock price is at one of the two strikes at expiration. Because I am buying 
+exposure to both the upside and the downside, I always like to make sure