### Comment:
Oh. I didn't even look at that, I had just assumed that was the only way he was profitable. 
  
 In that case his maximum loss is at $0, but in reality, would just be the difference between the strike price and the price at which it was exercised. 
  
 It's still leveraged, and still super risky, but at least the risk isn't unlimited.

### REPLY:
How is his maximum loss $0 when selling naked options?

### END.