Add training workflow, datasets, and runbook

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+the road. The market’s apparent assessment of future volatility is unchanged
+during this period. When IV rises or falls, vol traders must look to the
+underlying stock for a reason. The options market reacts to stock volatility,
+not the other way around.
+Finding fundamental or technical reasons for surges in volatility is easier
+than finding specific reasons for a decline in volatility. When volatility falls,
+it is usually the result of a lack of news, leading to less price action. In this
+example, probably nothing happened in the market. Consequently, the stock
+volatility drifted lower. But it fell below the lowest IV level seen for the six-
+month period leading up to the crossover. It was probably hard to take a
+confident stance in volatility immediately following the crossover. It is
+difficult to justify selling volatility when the implied is so cheap compared
+with its historic levels. And it can be hard to justify buying volatility when
+the options are priced above the stock volatility.
+The two-week period before the realized line moved beneath the implied
+line deserves closer study. With the IV four or five points lower than the
+realized volatility in late January, traders may have been tempted to buy
+volatility. In hindsight, this trade might have been profitable, but there was
+surely no guarantee of this. Success would have been greatly contingent on
+how the traders managed their deltas, and how well they adapted as realized
+volatility fell.
+During the first half of this period, the stock volatility remained above
+implied. For an experienced delta-neutral trader, scalping gamma was likely
+easy money. With the oscillations in stock price, the biggest gamma-
+scalping risk would have been to cover too soon and miss out on
+opportunities to take bigger profits.
+Using the one-day standard deviation based on IV (described in Chapter
+3) might have produced early covering for long-gamma traders. Why?
+Because in late January, the standard deviation derived from IV was lower
+than the actual standard deviation of the stock being traded. In the latter half
+of the period being studied, the end of February on this chart, using the one-
+day standard deviation based on IV would have produced scalping that was
+too late. This would have led to many missed opportunities.
+Traders entering hedges at regular nominal intervals—every $0.50, for
+example—would probably have needed to decrease the interval as volatility