transcription, транскрипция: [ ˈneɪkɪd ]
adjective (Business World) In financial jargon, of an option, position, etc.: unhedged, not secured or backed by the underlying stock, and therefore high-risk. Etymology: A figurative use of naked in the sense 'not covered'; the writer of a naked option does not actually own the stock concerned, so in this sense it is 'not covered'. History and Usage: The practice of writing unhedged or naked options was first reported in the US in the early seventies; in the middle of the decade it was the subject of a number of prosecutions for fraud. As high-risk financial deals involving junk bonds and mezzanine finance became more common in the eighties, naked writing spread to other financial markets and the naked writer became a recognized (although still slightly suspect) figure in stock dealing. Some traders were using more risky index-trading strategies, sources said. One involves writing naked puts--selling someone the right to force you to buy a stock index at a set price in the future. Newsday 26 Oct. 1989, p. 58