[Solved] The first step in the decision-making process is to identify the problem. Stock Price: The cost of buying a share of a company, which fluctuates based on market conditions and the performance of the company. Naked Call Option: An options strategy where the investor sells call options without owning the underlying asset, exposing them to unlimited potential losses. Potential Loss: The amount of money that could be lost in an investment or financial transaction under adverse conditions. Call Premium: The amount by which the price of a call option exceeds its intrinsic value, reflecting the cost to purchase the option above its immediate exercise value.