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The docs on actions do not include any information about the --shared option
The cli just says that it is a boolean:
usage: wsk-script.py action create [-h] [-u AUTH] [--docker] [--copy] [--sequence] [--lib LIB] **[--shared [{yes,no}]]** [-a ANNOTATION ANNOTATION] [-p PARAM PARAM] [-t TIMEOUT] [-m MEMORY] name artifact
It is not clear what you would use this for.