Add training workflow, datasets, and runbook

training_data/curated/text/d0f14d4715156d6172b37ba5501e146adc9f7496af2d169ef97abe4df99511e3.txt

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+218  •   The Intelligent Option Investor
+investment will be expiring just about the time another short-put invest-
+ment is becoming attractive, so you can use the margin that has until re-
+cently been used to support the first position to support the new one.
+Obviously, this strategy only works when markets are generally trend-
+ing upward or at least sideways over the investment horizon of your short 
+puts. If the market is falling, short-put positions expire ITM, so you are left 
+with a position in the underlying stocks. For an option trader (i.e., a short-
+term speculator), being put a stock is a nightmare because he or she has 
+no concept of the underlying value of the firm. However, for an intelligent 
+option investor, being put a stock simply means the opportunity to receive 
+a dividend and enjoy capital appreciation in a strong stock with very little 
+downside valuation risk.
+The biggest problem arises when an investor sells a put and then re-
+vises down his or her lowest-case valuation scenario at a later time. For in-
+stance, the preceding diagram shows a worst-case scenario of $55 per share. 
+What if new material information became known to you that changed your 
+lower valuation range to $45 per share just as the market price for the stock 
+dropped, as in the following diagram?
+Advanced Building Corp. (ABC)
+80
+70
+60
+50 EBP = $47.50
+Overvaluation of
+downside exposure
+40
+30
+20
+5/18/2012 5/20/2013 249 499 749 999
+Date/Day Count
+Stock Price
+RED