[Solved] Using options to place a bet on the direction in which you believe the market is likely to move is called: A)speculation. B)hedging. C)a covered position. D)a naked position. Leadership: The process of inspiring others to work hard to accomplish important tasks. Procedure: A rule describing actions that are to be taken in specific situations. Communication: is the act of conveying information, ideas, feelings, and messages from one person or group to another through various means. Planning: The process of making plans for something, including setting goals and deciding on the actions to achieve them.