Ronbo you know not what you say. You ever heard of putting on a hedge if necessary. You know those naked calls were probably 215 - 230 stk OTM no lose to the seller yet, they have no intrinsic value plus all one has to do is hedge the position now.
Yes if you sit there and the market keeps this up and you do nothing you could get burnt but that is with any trading position. I was naked cotton option back in 1994 pretty much same scenario finally bailed out with only a $150.
lose.
USCoralSea
