NAKED CALL
\nˈe͡ɪkɪd kˈɔːl], \nˈeɪkɪd kˈɔːl], \n_ˈeɪ_k_ɪ_d k_ˈɔː_l]\
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By not owning the underlying asset and having the call's exercise value amount deposited n a cash account the option writer has this specific type of exposed short call trading position. Contrast to covered call. Also known as uncovered call.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.