Spot: Spot usually refers to a cash market for a physical commodity where the parties generally expect immediate delivery of the actual commodity.
Spot Price: Spot Price is the price at which a physical commodity for immediate delivery is selling at a given time and place. See Cash Price.
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Naked options trading is very risky - many people lose money trading them. It is recommended contacting your broker or investment professional to find out about trading risk and margin requirements before getting involved into trading uncovered options.