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They probably, have been selling naked calls for years and figured that they have it in the bag! However, the risk profile for selling naked calls is the risk is unlimited to the upside! When, there is a big run up, now you have to cover quick because the losses keep piling on! If the calls are thinly traded, you are at the mercy of the call sellers who can jack the call option prices sky high knowing you have to pay to exit! And if you are stuck in deer in headlights mode and paralyzed in fear, you now double, triple your losses because you cannot pull the trigger to get out with the huge losses!
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