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Epstein File EFTA01365839: Naked (DS10)

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This document discusses financial terminology related to short selling in stock markets, specifically explaining the concept of 'naked' short sales. It describes naked short sales as sales that exceed the option to purchase additional shares, and notes that underwriters must close out such positions by purchasing shares in the open market.

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naked

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PersonKeyword
Excerpt 1
Establishing short sales positions may involve either "covered" short sales or "**naked**" short sales.
Excerpt 2
"**Naked**" short sales are sales in excess of the option to purchase additional shares of our common stock.
Excerpt 3
The underwriters must close out any **naked** short position by purchasing shares in the open market.

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Source: U.S. Department of Justice

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