Quote:
Originally Posted by ERA Chas
You mean a May 49,900 call? I don't think he would write a naked call. Oh wait-he will still own it so it's hedged, not naked.
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Yep, and he could justify it by saying that the option conveyed an "inchoate equitable property right" so the price increase was no longer applicable. I just made that up but it sounds pretty good, doesn't it?