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non·sense   Audio pronunciation of "nonsense" ( P )  Pronunciation Key  (nnsns, -sns)

n.

   1. Words or signs having no intelligible meaning: a message that was nonsense until decoded.

   2. Subject matter, behavior, or language that is foolish or absurd.

   3. Extravagant foolishness or frivolity: a clown's exuberant nonsense.

   4. Matter of little or no importance or usefulness: a chatty letter full of gossip and nonsense.

   5. Insolent talk or behavior; impudence: wouldn't take any nonsense from the children.

Main Entry: con·fu·sion

Pronunciation: k&n-'fyü-zh&n

Function: noun

: disturbance of consciousness characterized by inability to engage in orderly thought or by lack of power to distinguish, choose, or act

misinformation

n : information that is incorrect

cog·ni·tive   Audio pronunciation of "cognitive" ( P )  Pronunciation Key  (kgn-tv)

adj.

   1. Of, characterized by, involving, or relating to cognition: “Thinking in terms of dualisms is common in our cognitive culture” (Key Reporter).

   2. Having a basis in or reducible to empirical factual knowledge.

cog·ni·tion   Audio pronunciation of "cognition" ( P )  Pronunciation Key  (kg-nshn)

n.

   1. The mental process of knowing, including aspects such as awareness, perception, reasoning, and judgment.

   2. That which comes to be known, as through perception, reasoning, or intuition; knowledge.

The above denunciation appears to revolve around my use of the the "unquantifiable"

Main Entry:      unquantifiable

Part of Speech:      adjective

Definition:      unable to be counted or to have a value assigned; impossible to determine the quantity of

In the strictest sense, the maximum risk of a written put is quantifiable as far as ordinary shares are concerned, in that the same may indeed go to 0 and no further. With futures however, because of the nature of the underlying, this is unlikely to ever be the case. So maximum risk, in this case, is indeed unquantifiable.

However, I am comfortable discarding this term in favour of "indeterminable"

in·de·ter·min·a·ble   Audio pronunciation of "indeterminable" ( P )  Pronunciation Key  (nd-tûrm-n-bl)

adj.

   1. Impossible to fix or measure: indeterminable traces of poison; indeterminable assets.

   2. Impossible to settle or decide with finality: indeterminable questions.

Athough the presense of 0 may ultimately quantify our maximum risk in a limited number of cases, it is impossible to determine the extremely unlikely probability of such an event ever occuring in those cases where it is possible.

Certainly the risk of a written put (naked that is) is NOT unlimited. It is questionable whether the risk is quantifiable or not; in some cases is is certainly not quantifiable. So indeterminable seems to be the best fit.

I now turn to the written, naked call. Most textbooks, and indeed certain members of this very forum refer to the risk as "unlimited".

un·lim·it·ed   Audio pronunciation of "unlimited" ( P )  Pronunciation Key  (n-lm-td)

adj.

   1. Having no restrictions or controls: an unlimited travel ticket.

   2. Having or seeming to have no boundaries; infinite: an unlimited horizon.

   3. Without qualification or exception; absolute: unlimited self-confidence.

Again an arguable point. Unlimited infers the infinite, whereas the risk of a written call is eminently limited by the maximum price people are prepared to pay for the asset. And there will always be a maximum price. Since we are indulging in extreme pedancy, (if that is a word) we must abdicate this inaccurate term, in favour of either unquantifiable or indeterminable, both of which are accurate.

Refering back to the original statement which I quoted above, and an examination of language contained therein, I can only conclude were written for reasons other than for  accuracy of facts and reasoned debate. This is in contrast to the other excellent points in the rest of the post. However I will put it down to "hyperbole" an leave it at that.

hyperbole

n : extravagant exaggeration [syn: exaggeration]

Cheers