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Writing or Selling a Call Option is when you give the buyer of the call option the right to buy a stock from you at a certain price by a certain date. In other words, the seller (also known as the writer) of the call option can be forced to sell a stock at the strike price. The seller of the call receives the premium that the buyer of the call option pays. If the seller of the call owns the underlying stock, then it is called writing a covered call.. If the seller of the call does NOT own the underlying stock, then it is called writing a naked call.. Obviously, in this instance it is naked because the seller does not own the underlying stock. The best way to understand the writing of a call is to read the following example.
Normally, you'd buy to open, hope that the price goes up, then sell to close. If you thought the stock would go down, you'd do the opposite. Sell to pen first, have the stock price go down, then buy to close. You keep the difference minus commissions. Options are different and a little more complex. In options, usually you use sell to open in conjunction with a buy to open on a different option. But you could just do what's called going naked. You sell to open and buy to close a put option if you thought the stock was going up. Or you'd sell to open and buy to close a call option if you thought the stock would decrease. This is the simple definition. Trading options takes more education, so be careful if you decide to do so. Because they are leveraged, you can lose money much, much faster with options if you don't know what you're doing.