Add training workflow, datasets, and runbook

training_data/curated/text/cb2cecc32924eaf3f95d4e914235e61afab14951c71693ce02d209abb1b9871c.txt

@@ -0,0 +1,39 @@
+Chapter 1: Definitions 
+Option Description 
+IBM January 125 call (expiring in 2001) 
+IBM January 125 call (expiring in 2002) 
+IBM January 125 call (expiring in 2003) 
+IBM January 125 put (expiring in 2003) 
+27 
+Option Symbol 
+IBMAE 
+VBMAE 
+WBMAE 
+WBMME 
+Note that the last line shows a LEAPS put option symbol. The letter M stands for a 
+January put option - the standard usage for the expiration month code. 
+STOCK SPLITS 
+Stock splits often wreak havoc on option symbols, as the exchanges are forced to use 
+the standard characters in nonstandard ways in order to accommodate all the addi­
+tional strikes that are created when a stock splits. The actual discussion of stock splits 
+and the resultant option symbology is deferred to the next section. 
+SYMBOLOGY SUMMARY 
+The exchanges do a good job of making symbol information available. Each exchange 
+has a Web site where memos detailing the changes required by LEAPS, wraps, and 
+splits are available for viewing. 
+The OCC and the exchanges have been forced to create multiple option base 
+symbols for a single stock in order to accommodate the various strike price and expi­
+ration month situations - to avoid duplication of the standardized character used for 
+the strike or expiration month. This is unwieldy and confusing for option traders and 
+for data vendors as well. In some rare cases, mistakes are made, and there can briefly 
+be two designations for the same option symbol. The only way to eliminate this con­
+fusion would be to use a longer, more descriptive option symbol that included the 
+expiration year and the striking price as numerical values, much as is done with 
+futures options. It is the member firms themselves and some of the quote vendors 
+who object to the transformation to this less confusing system, because they would 
+have to recode their software and alter their databases. 
+DETAILS OF OPTION TRADING 
+The facts that the strategist should be concerned with are included in this section. 
+They are not presented in any particular order of importance, and this list is not nec­
+essarily complete. Many more details are given in the discussion of specific strategies 
+throughout this text.