Add training workflow, datasets, and runbook

training_data/curated/text/c29e14b117e74e379dd3a3b10c45526db00a34576e3dbbba240e8479105969bd.txt

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+Taking the Day Out
+When the number of days to expiration used in the pricing model declines
+from, say, 32 days to 31 days, the price of the option decreases by the
+amount of the theta, all else held constant. But when is the day “taken out”?
+It is intuitive to think that after the market closes, the model is changed to
+reflect the passing of one day’s time. But, in fact, this change is logically
+anticipated and may be priced in early.
+In the earlier part of the week, option prices can often be observed getting
+cheaper relative to the stock price sometime in the middle of the day. This is
+because traders will commonly take the day out of their model during
+trading hours after the underlying stabilizes following the morning
+business. On Fridays and sometimes Thursdays, traders will take all or part
+of the weekend out. Commonly, by Friday afternoon, traders will be using
+Monday’s days to value their options.
+When option prices are seen getting cheaper on, say, a Friday, how can
+one tell whether this is the effect of the market taking the weekend out or a
+change in some other input, such as volatility? To some degree, it doesn’t
+matter. Remember, the model is used to reflect what the market is doing,
+not the other way around. In many cases, it’s logical to presume that small
+devaluations in option prices intraday can be attributed to the routine of the
+market taking the day out.