[Solved] there are no practical cryptanalytic attacks on 3DES. Call Options: Agreements that provide the purchaser with the option, but not the duty, to purchase a specific asset at an agreed-upon price during a designated timeframe. Premium: An amount paid that is higher than the nominal or expected value, often associated with insurance costs or bond rates. Covered Option: Occurs when a trader writes (sells) an option while having the underlying position to cover the position in the event that the option is exercised. Naked Option: A risky investment strategy involving the selling of options contracts without owning the underlying asset or having a covering position.