Add training workflow, datasets, and runbook

training_data/relevant/text/3af2b69ebdd06e07e61fa1d7f868a2deed4f6e4fe0bf1e8617b0e3146e8678c6.txt

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+Chapter 35: Futures Option Strategies for Futures Spreads 
+TABLE 35-2. 
+Terms of oil production contract. 
+Contract 
+Crude Oil 
+Unleaded Gasoline 
+Heating Oil 
+Initial 
+Price 
+18.00 
+.6000 
+.5500 
+Subsequent 
+Price 
+19.00 
+.6100 
+.5600 
+The following formula is generally used for the oil crack spread: 
+Crack= (Unleaded gasoline + Heating oil) x 42 - 2 x Crude 
+2 
+(.6000 + .5500) X 42 - 2 X 18.00 = 
+2 
+= (48.3 - 36)/2 
+= 6.15 
+703 
+Gain in 
+Dollars 
+$1,000 
+$ 420 
+$ 420 
+Some traders don't use the divisor of 2 and, therefore, would arrive at a value 
+of 12.30 with the above data. 
+In either case, the spreader can track the history of this spread and will attempt 
+to buy oil and sell the other two, or vice versa, in order to attempt to make an over­
+all profit as the three products move. Suppose a spreader felt that the products were 
+too expensive with respect to crude oil prices. He would then implement the spread 
+in the following manner: 
+Buy 2 March crude oil futures @ 18.00 
+Sell 1 March heating oil future @ 0.5500 
+Sell l March unleaded gasoline future @ 0.6000 
+Thus, the crack spread was at 6.15 when he entered the position. Suppose that 
+he was right, and the futures prices subsequently changed to the following: 
+March crude oil futures: 18.50 
+March unleaded gas futures: .6075 
+March heating oil futures: .5575 
+The profit is shown in Table 35-3.