Add training workflow, datasets, and runbook

training_data/curated/text/f4addaa5fd11e6d0f00823169a31ce73c7c2dd2a9e58db360de4ebcdf6388353.txt

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+Chapter 40: Advanced Concepts 
+FIGURE 40-7. 
+Theta comparison, with XYZ = 50, t = three months. 
+-16 
+Very High Volatility 
+-14 
+-12 
+0 0 
+T"" 
+X 
+~ 
+-10 
+.i::: 
+I-
+-8 Low Volatility 
+-6 
+0 
+40 45 50 55 60 
+Strike Price 
+TABLE 40-7. 
+863 
+65 
+Theta comparison for differing volatilities (XYZ = 50, t = 3 months). 
+Strike low Volatility Medium Volatility High Volatility 
+40 -0.005 -0.008 -0.013 
+45 -0.007 -0.010 -0.014 
+50 -0.008 -0.010 -0.015 
+55 -0.007 -0.010 -0.016 
+60 -0.006 -0.009 -0.016 
+65 -0.004 -0.008 -0.015 
+to lose value. This does not change the fact that, for very short-term options, the theta 
+is largest at-the-money. 
+Normally, the theta of an individual option is of little interest to the strategist. 
+He generally would be more concerned with delta or gamma. However, as with the 
+other risk measures, theta can be computed for an entire portfolio of options. This 
+measure, the "position theta," can be quite important because it gives the strategist 
+a good idea of how much gain or loss he can expect on a daily basis, due to time ero­
+sion. The following example demonstrates this point. Note that the underlying secu­
+rity itself has a theta of zero, since it cannot lose any value due to time decay.