Add training workflow, datasets, and runbook

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+234  •   The Intelligent Option Investor
+I provide actual market examples of these strategies in this chapter and will 
+point out the effect of both these points in those examples.
+Because these strategies are a mix of exposures, it makes sense 
+that they are just complex (i.e., multioption) positions. I will discuss the 
+following:
+1. Long diagonal
+2. Short diagonal
+Note that the nomenclature I use here is a bit different from what others 
+in the market may use. What I term a diagonal in this book is what others 
+might call a “spit-strike synthetic stock. ” Since Bernie Madoff ’s infamous 
+“split-strike conversion” fraud, this term doesn’t have a very good ring to 
+it. For other market participants, a diagonal means simultaneously buying 
+and selling options of the same type (i.e calls or puts). In this book, it means 
+selling an option of one kind and buying the other kind.
+I will also talk about what is known in the options world as overlays. One 
+of the most useful things about options is the way that they can be grafted or 
+overlain onto an existing common stock position in a way that alters the port-
+folio’s overall risk-reward profile. The strategies I will review here are as follows:
+1. Covered calls
+2. Protective puts
+3. Collars
+These strategies are popular but often misunderstood ways to alter your 
+portfolio’s risk-reward profile.
+Coming this far in this book, you already have a good understand-
+ing about how options work, so the concepts presented here will not be 
+difficult, but I will discuss some nuances that will help you to evaluate 
+investment choices and make sound decisions regarding the use of these 
+strategies. I will refer to strike selection and tenor selection in the following 
+pages, but for these, along with “The Gist” section, I’ll include an “Execu-
+tion” section and a “Common Pitfalls” section.
+Covered calls are an easy strategy to understand once you understand 
+short puts, so I will discuss those first. Protective puts share a lot of simi-
+larities with in-the-money (ITM) call options, and I will discuss those next.