Add training workflow, datasets, and runbook

training_data/curated/text/c89b94962091e8d83d9e6b5f20414f593d812955c9339480ed7c516b9334e3de.txt

@@ -0,0 +1,45 @@
+398 Part Ill: Put Option Strategies 
+The collateral requirement for the naked put write is the same as that for any 
+naked equity option: 20% of the stock price, plus the option price, less any out-of­
+the-money amount, with an absolute minimum requirement of 15% of the stock 
+price. 
+Collateral Requirement - Naked Put 
+20% of stock price (.20 x 500 x $50) 
+Plus option premium 
+Less out-of-the-money amount 
+Total collateral requirement 
+$5,000 
+1,750 
+0 
+$6,750 
+Note that the actual premium received by the naked put seller is $1,750 less com­
+missions of $100, for example, or $1,650. This net premium could be used to reduce 
+the total collateral requirement. 
+Now one can compare the profitability of the two investments: 
+Return If Stock Over 50 at Expiration 
+Stock sale {500 @ 50) 
+Less stock commission 
+Plus dividends earned until expiration 
+Less net investment 
+Net profit if exercised 
+Net put premium received 
+Dividends received 
+Net profit 
+Covered Write 
+$25,000 
+300 
++ 1,000 
+- 21,150 
+$ 4,55_0 
+Naked Put Sole 
+$1,650 
+0 
+$1,650 
+Now the returns can be compared, if XYZ is over 50 at expiration of the LEAPS: 
+Return if XYZ over 50 
+(net profit/net investment) 
+Naked put sale: 24.4% 
+Covered write: 21 .5% 
+The naked put write has a better rate of return, even before the following fact 
+is considered. The strategist who is using the naked put write does not have to spend 
+the $6,750 collateral requirement in the form of cash. That money can be kept in a