One possible description of this trading method has been 'picking pennies up in front of a steam-roller' which I have thought is kind of wrong as the penny pickers always get to go and repeat the behaviour it seems.
This should be more correctly headlined "Downside to writing naked options" than options in general. Writing covered calls (options) for example, is relatively low risk because you hold the underlying security (ie you're covered), not having to go out to the marketplace to buy the shares at whatever price if the market moves against your position and you are 'exercised'.
