[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. Interval: A range between two points or numbers, often used to specify a particular segment of a scale or measurement. Mean: A measure of central tendency calculated by summing all the values in a dataset and dividing by the number of values. Cumulative Binomial Probabilities: The probabilities of obtaining a range of successes in a fixed number of binary experiments up to a certain point. Car Color Preferences: The particular likings or choices of individuals regarding the color of automobiles, often studied in marketing and psychology to understand consumer behavior.