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FINDLAW LEGAL DICTIONARY

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Naked

naked adj

1 : characterized by the lack of an interest or of exclusive control, use, or possession
2 : not backed by the option writer's ownership of the commodity, the contract for the commodity, or the security



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.