uncovered option

Also found in: Financial.

uncovered option

n.
See naked option.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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Directional strategies will utilize options and combinations of options to position for specific market moves, while non- directional strategies attempt to capture premiums on the sale of uncovered options.
Warrington Asset Management Wins Pinnacle Award's 5-Year Best Options Strategy
30,000 [pounds sterling]; any remaining uncovered options are unapproved.
Foreign taxes may reduce stock option benefits
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