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If you sold (write) a naked call option for a $3 premium with a strike price of $20. Which of the following statements is true?

If you sold (write) a naked call option for a $3 premium with a strike price of $20. Which of the following statements is true?

a. Your loss is limited to $20/share

b. You hope the price will go up

c. The option will likely not be exercised until the price is $17

d. Your maximum gain is $3

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