Add training workflow, datasets, and runbook

training_data/relevant/text/c92163a8b0d48130749eaa0010346d0ff6c1f82dd19554e7d63ac3d4e9c814c7.txt

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+The Interrelations of Credit
+Spreads and Debit Spreads
+Many traders I know specialize in certain niches. Sometimes this is because
+they find something they know well and are really good at. Sometimes it’s
+because they have become comfortable and don’t have the desire to try
+anything new. I’ve seen this strategy specialization sometimes with traders
+trading credit spreads and debit spreads. I’ve had serial credit spread traders
+tell me credit spreads are the best trades in the world, much better than debit
+spreads. Habitual debit spread traders have likewise said their chosen
+spread is the best. But credit spreads and debit spreads are not so different.
+In fact, one could argue that they are really the same thing.
+Conventionally, credit-spread traders have the goal of generating income.
+The short option is usually ATM or OTM. The long option is more OTM.
+The traders profit from nonmovement via time decay. Debit-spread traders
+conventionally are delta-bet traders. They buy the ATM or just out-of-the-
+money option and look for movement away from or through the long strike
+to the short strike. The common themes between the two are that the
+underlying needs to end up around the short strike price and that time has to
+pass to get the most out of either spread.
+With either spread, movement in the underlying may be required,
+depending on the relationship of the underlying price to the strike prices of
+the options. And certainly, with a credit spread or debit spread, if the
+underlying is at the short strike, that option will have the most premium.
+For the trade to reach the maximum profit, it will need to decay.
+For many retail traders, debit spreads and credit spreads begin to look
+even more similar when margin is considered. Margin requirements can
+vary from firm to firm, but verticals in retail accounts at option-friendly
+brokerage firms are usually margined in such a way that the maximum loss
+is required to be deposited to hold the position (this assumes Regulation T
+margining). For all intents and purposes, this can turn the trader’s cash
+position from a credit into a debit. From a cash perspective, all vertical
+spreads are spreads that require a debit under these margin requirements.