Naked option

Definition
: an option in which the optionor does not own the security or commodity and will have to purchase it at market price if the optionee decides to exercise the option
compare covered option in this entry

Based on Merriam-Webster's Dictionary of Law ©2001.
Merriam-Webster, Incorporated
Published under license with Merriam-Webster, Incorporated.
http://www.m-w.com

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collateral estoppel

estoppel by judgment barring the relitigation of issues litigated by the same parties on a different cause of action

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