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Technology Stocks : QUANTUM
QNTM 7.600+7.8%2:18 PM EST

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To: Techinvest who wrote (4738)11/10/1997 9:59:00 PM
From: Dwight E. Karlsen   of 9124
 
Okay, this is the second reference you've given to "buy naked calls". There is no such thing, as someone already pointed out. You buy a call option, period. You're not naked, clothed, streaking, anything. At that point, your only alternatives prior to expiration is to "sell to close", or exersize the contract(s) and buy the shares at the strike price. If you already owned shares prior to that, fine, but it's immaterial.

Selling (writing) options is where the "naked" or "covered" comes into play.

DK
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