Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
The seller of an option contract who does not own the underlying asset (for a call) or have enough cash to purchase the underlying asset (for a put). This is very high risk.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
The writer or seller of an option who does not also own the underlying security.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.