Add training workflow, datasets, and runbook

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898 Part VI: Measuring and Trading Volatility
TABLE 40-12.
Risk measures of long gamma position at March expiration.
Stock
Price P&L Delta
46.19 81327 - 75.69
49.31 55628 - 89.84
52.64 22378 -110.50
56.20 - 21523 -136.65
60.00 78907 144.68
64.06 - 25946 117.44
68.39 19787 95.03
73.01 59732 79.05
77.95 96062 69.19
FIGURE 40-17.
Trading long gamma, position gamma.
(J)
(I)
1200
1000
800
~ 600 .c
(/)
400
200
55 60
Stock Price
Gamma Theta Vega
- 3.65 -1.32 - 6.88
- 5.39 -2.25 -11.43
- 6.89 -3.33 -16.50
- 7.62 -4.28 -20.67
- 7.29 -4.79 -22.49
- 6.03 -4.70 -21.26
- 4.31 -4.10 -17.44
- 2.67 -3.24 -12.43
- 1.43 -2.41 - 7.69
65
about a company - many sophisticated traders establish this type of position to take
advantage of the expected explosion in stock price.
Other Variations. Without going into as much detail, it is possible to com­
pare the above position with similar ones. The purpose in doing so is to illustrate
how a change in the strategist's initial requirements would alter the established