{"id":10534,"date":"2024-01-20T18:33:23","date_gmt":"2024-01-20T10:33:23","guid":{"rendered":"https:\/\/slashtraders.com\/?p=10534"},"modified":"2025-09-29T17:53:07","modified_gmt":"2025-09-29T09:53:07","slug":"naked-call","status":"publish","type":"post","link":"https:\/\/slashtraders.com\/es\/blog\/naked-call\/","title":{"rendered":"Por qu\u00e9 los expertos evitan vender Call desnudas como si fueran la peste"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Presentamos la estrategia de opciones m\u00e1s arriesgada y la raz\u00f3n por la que evitamos vender Calls desnudos a toda costa. Es un tipo de operaci\u00f3n que puede costarte todo tu capital.<\/p>\n\n\n<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<span class=\"zQ9QcOprNral5I0dHTf2Ze7mwet4quonFvnxjAiywBh3XODECA61W2pLYgWVUzgGtc6Eb\"><iframe title=\"La peor estrategia de negociaci\u00f3n de opciones\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/OGWH_o92TX8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/span>\n<\/div><\/figure>\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u4ec0\u9ebc\u662f\u88f8\u8ce3-put\u671f\u6b0a\uff1f\">\u00bfQu\u00e9 es una opci\u00f3n Call desnuda?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Naked Call es una estrategia de Call corta que no implica tener 100 acciones inicialmente. Es una <a href=\"https:\/\/slashtraders.com\/es\/tools\/bear-call-spread-screener\/\" target=\"_blank\" rel=\"noreferrer noopener\">estrategia bajista<\/a> que se vuelve lucrativa si el precio de la acci\u00f3n no se eleva.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-profit.png\" alt=\"llamada desnuda\" class=\"wp-image-10538\" style=\"width:1024px;height:auto\" srcset=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-profit.png 1280w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-profit-300x169.png 300w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-profit-1024x576.png 1024w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-profit-768x432.png 768w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-profit-18x10.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Si el precio de las acciones no sube, la opci\u00f3n Call al descubierto obtendr\u00e1 beneficios.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Una opci\u00f3n Call OTM corta genera una prima por adelantado. El <a href=\"https:\/\/slashtraders.com\/es\/blog\/options-value\/\" target=\"_blank\" rel=\"noreferrer noopener\">valor de la opci\u00f3n Call<\/a> se deprecia si el precio de la acci\u00f3n se mantiene por debajo del precio de ejercicio antes de que la opci\u00f3n expire. As\u00ed, la estrategia obtiene una ganancia.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Beneficio m\u00e1ximo = prima<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Si el valor de la opci\u00f3n expira sin valor, la ganancia m\u00e1xima de vender un Call desnudo es la prima.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-loss.png\" alt=\"P\u00e9rdida por naked call\" class=\"wp-image-10541\" srcset=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-loss.png 1280w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-loss-300x169.png 300w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-loss-1024x576.png 1024w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-loss-768x432.png 768w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/naked-call-loss-18x10.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Una opci\u00f3n Call desnuda pierde cuando el precio de la acci\u00f3n supera el precio de ejercicio.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Si el precio de las acciones de Nike aumenta m\u00e1s all\u00e1 del precio de ejercicio antes de la fecha de vencimiento, nos ver\u00edamos obligados a vender 100 acciones. Sin embargo, la estrategia de Call desnudo generalmente implica que no poseemos 100 acciones para vender, por lo que tendr\u00edamos que <a href=\"https:\/\/slashtraders.com\/es\/blog\/buy-to-open-vs-buy-to-close\/\" target=\"_blank\" rel=\"noreferrer noopener\">comprar para cerrar la opci\u00f3n Call<\/a> con una p\u00e9rdida.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">P\u00e9rdida = 100 x (precio de la acci\u00f3n - precio de ejercicio) - prima<br>P\u00e9rdida m\u00e1xima = infinita<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">La p\u00e9rdida en una operaci\u00f3n es el precio de la acci\u00f3n menos el precio de rendimiento multiplicado por 100, y si la empresa <a href=\"https:\/\/slashtraders.com\/es\/tools\/bull-put-spread-screener\/\" target=\"_blank\" rel=\"noreferrer noopener \">el precio de la acci\u00f3n sigue subiendo<\/a>, la p\u00e9rdida m\u00e1xima es ilimitada.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u88f8\u8ce3-put\u7684\u9078\u80a1\u65b9\u5f0f\">Ventajas de vender una opci\u00f3n Call al descubierto<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Existen algunas ventajas de vender Calls desnudos:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Las Call naked son capaces de producir un ingreso estable gracias a la prima.<\/li>\n\n\n\n<li class=\"translation-block\">Puede obtener beneficios incluso si el <a href=\"https:\/\/slashtraders.com\/es\/tools\/options-scanner\/\" target=\"_blank\" rel=\"noreferrer noopener\">precio de la acci\u00f3n es plano<\/a>.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Por lo tanto, cuando una acci\u00f3n determinada est\u00e1 sobrevalorada, conviene vender una Call desnuda para cobrar la prima.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u88f8\u8ce3-put\u7684\u9078\u80a1\u65b9\u5f0f\">Por qu\u00e9 nunca vendemos opciones Call desnudas<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Existen varios riesgos asociados a la venta de opciones Call desnudas:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Si la cuenta no dispone de 100 acciones en el momento en que se ejerce la opci\u00f3n, suele ser necesaria una reclamaci\u00f3n para liquidar la p\u00e9rdida.<\/li>\n\n\n\n<li>La p\u00e9rdida m\u00e1xima para esta estrategia es ilimitada, y si el precio de las acciones sigue subiendo, puede perder todo el dinero de la cuenta.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">Por eso, la mayor\u00eda de las plataformas de negociaci\u00f3n no permiten a los operadores principiantes vender llamadas desnudas, y la mayor\u00eda de los inversores no recomiendan esta <a href=\"https:\/\/slashtraders.com\/es\/blog\/beginner-options-trading-strategies\/\" target=\"_ blank\" rel=\"noreferrer noopener\">estrategia de negociaci\u00f3n<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><a href=\"https:\/\/slashtraders.com\/es\/pricing\/?utm_source=blog&amp;utm_medium=banner\"><img decoding=\"async\" width=\"1024\" height=\"126\" src=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2021\/05\/blog-trial-banner.png\" alt=\"Introducci\u00f3n a la experiencia blogger\" class=\"wp-image-9717\" srcset=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2021\/05\/blog-trial-banner.png 1280w, https:\/\/slashtraders.com\/wp-content\/uploads\/2021\/05\/blog-trial-banner-300x37.png 300w, https:\/\/slashtraders.com\/wp-content\/uploads\/2021\/05\/blog-trial-banner-1024x126.png 1024w, https:\/\/slashtraders.com\/wp-content\/uploads\/2021\/05\/blog-trial-banner-768x95.png 768w, https:\/\/slashtraders.com\/wp-content\/uploads\/2021\/05\/blog-trial-banner-18x2.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u88f8\u8ce3-put\u7684\u9078\u80a1\u65b9\u5f0f\">Estrategias para comercializar Calls desnudas<\/h2>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">La estrategia de Call desnudo es ideal para acciones que est\u00e1n en declive. Por lo tanto, preferimos emplear el <a href=\"https:\/\/slashtraders.com\/es\/tools\/bear-call-spread-screener\/\" target=\"_blank\" rel=\"noreferrer noopener\">screener de bear Call spread<\/a> para detectar acciones sobrevaloradas que tienen una <a href=\"https:\/\/slashtraders.com\/es\/blog\/fundamental-analysis-vs-technical-analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">perspectiva t\u00e9cnica bajista<\/a>. Tambi\u00e9n nos fijamos en acciones que presentan un Upside negativo en este momento. As\u00ed, podemos compilar una lista de acciones que tienen una alta probabilidad de caer.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u88f8\u8ce3-put\u7684\u9078\u80a1\u65b9\u5f0f\">Las mejores acciones para vender opciones Call desnudas<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Una vez obtenida la lista de valores estadounidenses sobrevalorados, podemos elegir los que nos gusten y vender Call.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"262\" src=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/best-naked-call-stocks.png\" alt=\"Mejor llamada desnuda\" class=\"wp-image-10545\" srcset=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/best-naked-call-stocks.png 1264w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/best-naked-call-stocks-300x77.png 300w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/best-naked-call-stocks-1024x262.png 1024w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/best-naked-call-stocks-768x196.png 768w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/best-naked-call-stocks-18x5.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Pick Upside menos de 0% y el an\u00e1lisis t\u00e9cnico de la acci\u00f3n bajista para vender Call desnudo.<\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">El valor bajista m\u00e1s sobrevalorado ahora mismo es IDXX, por lo que vendemos el contrato Call para el pr\u00f3ximo fin de mes a unos 20 delta y obtenemos beneficios siempre y cuando la cotizaci\u00f3n no suba, pero cuidado, si la cotizaci\u00f3n sube la p\u00e9rdida es de 100 acciones multiplicado por el diferencial entre la cotizaci\u00f3n y el contrato.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-naked-call.png\" alt=\"idxx vendido naked call\" class=\"wp-image-10546\" srcset=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-naked-call.png 1280w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-naked-call-300x169.png 300w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-naked-call-1024x576.png 1024w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-naked-call-768x432.png 768w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-naked-call-18x10.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Naked Call tiene ingresos limitados y p\u00e9rdidas m\u00e1ximas ilimitadas.<\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"\u88f8\u8ce3-put\u7684\u9078\u80a1\u65b9\u5f0f\">Mejor alternativa a las Calls desnudas<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Aunque Call desnuda es una estrategia bajista f\u00e1cil de usar, todav\u00eda nos inquieta el riesgo de p\u00e9rdidas sin l\u00edmite.<\/p>\n\n\n\n<p class=\"wp-block-paragraph translation-block\">As\u00ed que recomendamos <a href=\"https:\/\/slashtraders.com\/es\/blog\/bear-call-spread-delta-hedge\/\" target=\"_blank\" rel=\"noreferrer noopener\">vender spreads verticales de Call bajistas. <\/a>, puede utilizar la menor cantidad de poder adquisitivo para lograr un comercio bajista, pero tambi\u00e9n eficaz en la limitaci\u00f3n de la p\u00e9rdida m\u00e1xima, y a veces habr\u00e1 m\u00e1s de 100% retorno de la inversi\u00f3n.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-bear-call-spread.png\" alt=\"idxx spreads verticales bajistas\" class=\"wp-image-10549\" srcset=\"https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-bear-call-spread.png 1280w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-bear-call-spread-300x169.png 300w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-bear-call-spread-1024x576.png 1024w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-bear-call-spread-768x432.png 768w, https:\/\/slashtraders.com\/wp-content\/uploads\/2024\/01\/idxx-bear-call-spread-18x10.png 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">El bear Call spread puede generar un alto retorno sobre el capital con un bajo poder de compra.<\/figcaption><\/figure>\n\n\n\n<p class=\"has-ast-global-color-4-background-color has-background wp-block-paragraph\"><a href=\"https:\/\/slashtraders.com\/es\/blog\/slashtraders-vs-sp500\/\" target=\"_blank\" rel=\"noreferrer noopener\">Descubre las estrategias de SlashTraders que superan al S&amp;P 500 en un 450%<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Compartimos la estrategia de trading de opciones m\u00e1s arriesgada y explicamos por qu\u00e9 evitamos vender Calls desnudas como si fueran una plaga. Es una operaci\u00f3n que puede hacerte perderlo todo.<\/p>","protected":false},"author":1,"featured_media":10535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"plain-container","ast-site-content-layout":"normal-width-container","site-content-style":"unboxed","site-sidebar-style":"unboxed","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","_wp_rev_ctl_limit":"5"},"categories":[3],"tags":[56,12,64,54,14,11],"class_list":["post-10534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-cn","tag-en","tag-es","tag-nke","tag-options","tag-tw"],"_links":{"self":[{"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/posts\/10534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/comments?post=10534"}],"version-history":[{"count":5,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/posts\/10534\/revisions"}],"predecessor-version":[{"id":13962,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/posts\/10534\/revisions\/13962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/media\/10535"}],"wp:attachment":[{"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/media?parent=10534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/categories?post=10534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/slashtraders.com\/es\/wp-json\/wp\/v2\/tags?post=10534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}