Add training workflow, datasets, and runbook

training_data/relevant/text/e085f2871b52a610c8f478d8902809034643e07e220919a63931edf0bdb5d4e0.txt

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+In this example, February is 59 days from expiration. Exhibit 10.10 shows
+the analytics for this trade with CRM at $104.32.
+EXHIBIT 10.10 Salesforce.com condor ( Salesforce.com at $104.32).
+As expected with the underlying centered between the two middle strikes,
+delta and gamma are about flat. As Salesforce.com moves higher or lower,
+though, gamma and, consequently, delta will change. As the stock moves
+closer to either of the long strikes, gamma will become more positive,
+causing the delta to change favorably for Joe. Theta, however, is working
+against him with Salesforce.com at $104.32, costing $150 a day. In this
+instance, movement is good. Joe benefits from increased realized volatility.
+The best-case scenario would be if Salesforce.com moves through either of
+the long strikes to, or through, either of the short strikes.
+The prime objective in this example, though, is to profit from a rise in IV.
+The position has a positive vega. The position makes or loses $400 with
+every point change in implied volatility. Because of the proportion of theta
+risk to vega risk, this should be a short-term play.
+If Joe were looking for a small rise in IV, say five points, the move would
+have to happen within 13 calendar days, given the vega and theta figures.
+The vega gain on a rise of five vol points would be $2,000, and the theta
+loss over 13 calendar days would be $1,950. If there were stock movement
+associated with the IV increase, that delta/gamma gain would offset some of
+the havoc that theta wreaked on the option premiums. However, if Joe
+traded a strategy like a condor as a vol play, he would likely expect a bigger