Add training workflow, datasets, and runbook

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+Chapter 28: Mathematical Applications 479 
+Theoretical synthetic Theoretical Strike Stock D" .d d = + - + 1vi en s put price call price price price 
+When the ranking analysis is performed, very few synthetic puts will appear as 
+attractive put buys. This is because, when the customer buys a synthetic put, he must 
+advance the full cost of the dividend, but receives no offsetting cost reduction for the 
+credit being earned by the short stock position. Consequently, synthetic puts are 
+always more expensive, on a relative basis, than are listed puts. However, if one is par­
+ticularly bearish on a stock that has no listed puts, a synthetic put may still prove to 
+be a worthwhile investment. The recommended analysis can give him a feeling for 
+the reward and risk potential of the investment. 
+CALENDAR SPREADS 
+The pricing nwdel can help in determining which neutral calendar spreads are nwst 
+attractive. Recall that in a neutral calendar spread, one is selling a near-term call and 
+buying a longer-term call, when the stock is relatively close to the striking price of the 
+calls. The object of the spread is to capture the time decay differential between the 
+two options. The neutral calendar spread is normally closed when the near-term 
+option expires. The pricing model can aid the spreader by estimating what the prof­
+it potential of the spread is, as well as helping in the determination of the break-even 
+points of the position at near-term expiration. 
+To determine the maximum profit potential of the spread, assume that the near­
+term call expires worthless and use the pricing model to estimate the value of the 
+longer-term call with the stock exactly at the striking price. Since commission costs 
+are relatively large in spread transactions, it would be best to have the computations 
+include commissions. Calculating a second profit potential is sometimes useful as 
+well the profit if unchanged. To determine how much profit would be made if the 
+stock were unchanged at near-term expiration, assume that the spread is closed with 
+the near-term call equal to its intrinsic value (zero if the stock is currently below the 
+strike, or the difference between the stock price and the strike if the stock is initial­
+ly above the strike). Then use the pricing model to estimate the value of the longer­
+term call, which will then have three or six months of life remaining, with the stock 
+unchanged. The resulting differential between the near-term call's intrinsic value and 
+the estimated value of the longer-term call is an estimate of the price at which the 
+spread could be liquidated. The profit, of course, is that differential minus the cur­
+rent (initial) differential, less commissions. 
+In the earlier discussion of calendar spreads, it was pointed out that there is 
+both an upside break-even point and a downside break-even point at near-term expi­
+ration. These break-even points can be estimated with the use of the pricing model.