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Series 24: 2.4.2.3. Uncovered (Naked) Short Option Contracts

Taken from our Series 24 Online Guide

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2.4.2.3. Uncovered (Naked) Short Option Contracts

Member firms that allow customers to write uncovered option contracts (e.g., naked calls) must develop and maintain written procedures specific to that product. These procedures should include specific criteria for evaluating whether short options are suitable for a customer. They must also include specific minimum net equity re

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