The owner of shares of common stock can write, or create, an option and sell it in the options market, in an attempt to increase the return or income on a stock investment. A more venturesome investor may create an option in this fashion without owning any of the underlying stock. This naked option writing exposes the speculator to unlimited risk because he or she may have to buy shares at some point to satisfy the contract at whatever price is reached. This is a serious risk if the value of the underlying asset has a high degree of variability.