Add training workflow, datasets, and runbook

training_data/curated/text/e71b0e74520a82d9680898ccc52d7c98c645b38d9a7a6e36ef269b73d3e32370.txt

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+226  •   The Intelligent Option Investor
+of losing the entire margin amount is higher, but the margin amount lost 
+is smaller. On the other hand, if we attempt to maximize our winnings 
+and initiate the widest spread possible, our total exposure is greatest, even 
+though the chance of losing all of it is lower.
+Plotting these three variables on a graph, here is what we get:
+200 (11%)
+0%
+20%
+40%
+60%
+80%
+106% 102%
+94%89%
+100%
+120%
+140%
+160%
+180%
+200%
+205 (22%) 210 (33%) 215 (44%) 220 (56%) 225 (67%) 230 (78%) 235 (89%) 240 (100%)
+Strike (% of Total Exposure)
+Risk & Return of Call Spreads vs. Maximum Spread
+Risk Comparison Return Comparison
+Here, on the horizontal axis, we have the value of the covering strike and 
+the size of the corresponding spread as a percentage of the widest spread. 
+This shows how much proportional capital is at risk (e.g., at the $215-strike, 
+we are risking a total of $20 of margin; $20 is 44 percent of total exposure 
+of $45 if we covered at the $240-strike level). The top line shows how much 
+greater the loss would be if we used that strike to cover rather than the 
+maximum strike and the option expired at that strike price (e.g., if we cover 
+at the $215-strike and the option expires when the stock is trading at $215, 
+our loss would be 6 percent greater than the loss we would suffer if we 
+covered at the $240-strike). The bottom line shows the premium we will 
+realize as income if the stock price declines as a percentage of the total pre-
+mium possible if we covered at the maximum strike price. Here are the val-
+ues from the graph in tabular format so that you can see the numbers used: