Add training workflow, datasets, and runbook

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+Chapter 39: Volatility Trading Techniques 841 
+benefit from the fact that the options are skewed in terms of implied volatility, it is not 
+a neutral strategy. It requires that the underlying drop in price in order to become 
+profitable. There is nothing wrong with using a directional strategy like this, but the 
+strategist must be aware that the skew is unlikely to disappear ( until expiration) and 
+therefore the index price movement is going to be necessary for profitability. 
+The second strategy would be best suited for moderately bearish investors, 
+although a severe market decline might drive the index so low that the additional 
+short puts could cause severe losses. However, statistically this is an attractive strat­
+egy. At expiration, the volatility skewing must disappear; the markets will have moved 
+in line with their real probability distribution, not the false one being implied by the 
+skewed options. This makes for a potentially profitable situation for the strategist. 
+The backspread strategy would work best for bullish investors, although some 
+backspreads can be created for credits, so a little money could also be made if the 
+index fell. In theory, a strategist could implement both strategies simultaneously, 
+which would give him an edge over a wide range of index prices. Again, this does not 
+mean that he cannot lose money; it merely means that his strategy is statistically 
+superior because of the way the options are priced. That is, the odds are in his favor. 
+In reality, though, a neutral trader would choose either the ratio spread or the 
+backspread - not both. As a general rule of thumb, one would use the ratio spread 
+strategy if the current level of implied volatility were in a high percentile. The back­
+spread strategy would be used if implied volatility were in a low percentile current­
+ly. In that way, a movement of implied volatility back toward the 50th percentile 
+would also benefit the trade that is in place. 
+Another interesting thing happens in these strategies that may be to their ben­
+efit: The volatility skewing that is present propagates itself throughout the striking 
+prices as OEX moves around. It was shown in the previous section's example that one 
+should probably continue to project his profits using the distorted volatilities that 
+were present when he establishes a position. This is a conservative approach, but a 
+correct one. In the case of these OEX spreads, it may be a benefit. 
+Assuming that the skewing is present wherever OEX is trading means that the 
+at-the-money strike will have 16% as its implied volatility regardless of the absolute 
+price level; the skewing will then extend out from that strike. So, if OEX rises to 600, 
+then the 600 strike would have a volatility of 16%; or if it fell to 560, then the 560 
+puts and calls would have a volatility of 16%. Of course, 16% is just a representative 
+figure; the "average" volatility of OEX can change as well. For illustrative purposes, 
+it is convenient to assume that the at-the-money strike keeps a constant volatility. 
+Example: Initially, a trader establishes a call backspread in OEX options in order to 
+take advantage of the volatility skewing: