NASDAQ - National Association of Securities Dealers Automatic Quotation System. It is an electronic market place in USA where securities are listed and traded electronically.

Naked Option - To open an option position by shorting / writing options without owning the underlying asset position. See Naked Call Write and Naked Put Write.

Narrow Based - Generally referring to an index, it indicates that the index is composed of only a few stocks, generally in a specific industry group. Narrow-based indices are NOT subject to favorable treatment for naked option writers.

Neutral - Describing an opinion that is neither bearish or bullish. Neutral option strategies are generally designed to perform best if there is little or no net change in the price of the underlying stock.

Non-Equity Option - An option whose underlying entity is not common stock; typically refers to options on physical commodities, but may also be extended to include index options.