Monday, March 20, 2006

The Naked Call Parity... Or, How Telefonica Is Preventing Me From Studying for Finals

An American family lived in this apartment before the Calatrava Guapos moved in, which was fortunate for us because it meant a telephone line had already been installed before we arrived. As most people in Spain know, dealing with Telefonica is a nightmare and it can take three months to have a phone line installed. (As I write this slanderous material, I'm wondering how soon they will pull the plug on us... probably in three months or so.) So the existing line in our house meant we had immediate wireless internet thanks to George, our resident IT wizard.

The downside is that the family had a filter installed. And it's a STRONG filter. If you try to search anything that Telefonica thinks MIGHT be sexually-related or might have a link to sexually-related content, you are immediately blocked. I can't access one of my favorite websites for funny videos of people falling down because it has a link to "adult" sites.

Now, you may be thinking, just call Telefonica and have them remove the filter. And if it were that simple, believe me, we would have done it long ago. Calling Telefonica means waiting on hold forever, being transferred over and over, and being hung up on several times. So we haven't exactly had time for that. And it's not such a big deal, really...

...Until tonight. I have been studying for finals all night, and switched from Operations to Capital Markets about an hour ago. I'm reviewing some terms and looking things up on Investopedia and wanted to check the definition of a "naked call," which appeared in my notes. I plugged the term into Investopedia's dictionary and ....

BLOCKED! I CAN'T DO MY HOMEWORK BECAUSE OF TELEFONICA!

3 comments:

Anonymous said...

A call option position held by a writer who does not hold a long position in the stock on which the call has been written. Sometimes referred to as an "uncovered call."

NoellieBellie said...

Thank you! Much obliged.

Strangely, the IESE filter (which is ALSO very strong) did not block my search for "naked call" this morning.

But it did block my search for "naked Dutch people."

Anonymous said...

heh, you guys crack me up!