ls short the underlying security, the loss on the call will be offset in whole or in part by any gain on the short sale of the underlying security. Put Options. The Partnership will engage in sales or purchases of put options. The seller (writer) of a put option which is covered (e.g., the writer has a shor

ls short the underlying security, the loss on the call will be offset in whole or in part by any gain on the short sale of the underlying security. Put Options. The Partnership will engage in sales or purchases of put options. The seller (writer) of a put option which is covered (e.g., the writer has a shor

g security above the exercise price of the option. The buyer of a call option assumes the risk of losing his entire investment in the call option. Put Options. There are risks associated with the sale and purchase of put options. The seller (writer) of a put option which is covered (e.g., the writer has a