Options Writer Explained

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Writing Call Options | Payoff | Example | Strategies

What is Writing Call Options

Options are one of the derivative instruments used in the world of finance in order to transfer risk from one entity to another and also can be used for hedging or arbitrage or speculation. By definition, Call options are a financial instrument which gives its holder (buyer) the right but not the obligation to buy the underlying asset at a predetermined price during the period of the contract.

In this article, we discuss about writing call options in detail –

Writing Call Options

Writing call options also called as selling the call options.

As we know that call option gives a holder the right but not the obligation to buy the shares at a predetermined price. Whereas, in writing a call option, a person sells the call option to the holder (buyer) and obliged to sell the shares at the strike price if exercised by the holder. The seller in return receives a premium which is paid by the buyer.

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Writing Call Options Example

Suppose two investors, Mr. A and Mr. B have done their research on the shares of TV Inc. Mr. A has 100 shares of TV Inc in his portfolio and currently TV Inc is trading at a price of $1000/-. Mr. A is pessimistic about the shares and feels that in one month’s time, TV Inc is going to trade at the same level or it will drop from its current level and therefore wants to sell a call option. However, he wants to retain TV Inc’s shares in his portfolio for a long term. Hence, he places a sell of a call option on TV Inc for a strike price of $1200/-, at a premium of $400/-($4/per share) and a maturity of next one month. Lot size of one contract we assume here as 100 shares.

On the other side, Mr. B feels that TV Inc’s share is going to rise from $1000/- to $1200/-. And therefore, he wants to buy a call option. However, he does not wish to increase his portfolio as of now. Hence, he put his order to buy a call option on TV Inc for the strike price of $1200/-, at a premium of $400/- and maturity period of next one month.

Mr. A found that someone has quoted a buy on call option with a bid price of $400/- for the strike price of $1200/-. He accepted the order and call option contract between the two got finalized.

During the maturity period, the price of TV Inc’s shares soars to $1300/- and hence Mr. B has exercised his call option (since the call option is in the money). Now, as per the contract Mr. A has to sell 100 shares of TV Inc at a price of $1200/- to Mr. B, which would in turn profitable for Mr. B as he can sell the shares at $1300/- in the spot market.

Here, Mr. B purchased the shares of TV Inc at a price of $1200/- which was worth $1300/- in the spot market. Whereas, Mr. A has earned $400/- as premium while writing the call option but had to sell the shares at $1200/- which was worth $1300/-.

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In our example, an obvious question comes to our mind that if Mr. A feels that the shares of TV Inc are going to drop from its current level then he could have bought put option instead of selling a call option. In the case of buying put option instead of writing a call option, he (as a holder) had to pay the premium and would have lost the opportunity to earn the premium by way of selling a call option.

With the above example, we can conclude that while writing call option, the writer (seller) leaves his right and obliged to sell the underlying at the strike price, if exercised by the buyer.

Payoff for writing call options

A call option gives the holder of the option the right to buy an asset by a certain date at a certain price. Hence, whenever a call option is written by the seller or writer it gives payoff of either zero since the call is not exercised by the holder of the option or the difference between strike price and stock price, whichever is minimum. Hence,

Payoff of short call option = min(X – ST, 0) or – max(ST – X, 0)

We can calculate the payoff of Mr. A with the available details assumed in the above example.

Had the share price of TV Inc been moved to $1100/- and end up out of the money, the pay-off for Mr. A would have been as follows

Strategies involved in writing call options

In the above example we have observed that Mr. A (writer of the call option) owns 100 shares of TV Inc. So when the option contract was exercised by Mr. B (buyer of the call option), Mr. A had to sell the shares to Mr. B and closed the contract. But there would be a scenario wherein the underlying is not owned by the seller or he is simply trading on the basis of his speculation. This argument gives space for Option Trading strategies involved in writing call options.

The strategy of writing call options can be done in two ways:

  1. writing covered call
  2. writing naked call or Naked short call

Let’s now discuss these two strategies involved in writing call options in details.

#1 – Writing Covered Call

In writing covered call strategy, the investor writes those call options for which s/he owns the underlying. This is a very popular strategy in writing option. This strategy is adopted by the investors if they feel that stock is going to fall or to be constant in near term or short term but want to hold the shares in their portfolio.

As the share prices fall, they end up with earning as premium. On the other hand, if the stock price rises, they sell the underlying to the buyer of call options.

In the above example, we have seen that Mr. A has written a call option on TV Inc shares which he is holding and later sold the same to the buyer Mr. B since the share prices were not moved as per his expectation and call option ended in the money. Here, Mr. A has covered his position by holding the underlying (shares of TV Inc). But had the share prices been moved as per his expectations and fallen down, he would have earned a net pay-off of $400/- as premium. However, incase of a buyer, if share prices move up as per his expectation he can earn unlimited profit theoretically.

In this way, the writer limits his losses by the difference between strike price at which the underlying is sold and premium earned by shorting or selling the call option.

Writing Covered Call Example

An investor has written the covered call option and at the time of expiry, the stock price rose to $1600/-.

Payoff for the seller is as below:

  • Pay-off = min(X – ST, 0)
  • = max(1500 – 1600, 0)
  • = -$100/-
  • Net Payoff of writer = 400 – 100 = $300/-

#2 – Writing Naked Call or Naked short Call

Writing naked call is in contrast to a covered call strategy as the seller of the call options does not own the underlying securities. In other words, we can say that when the option is not combined with offsetting position in the underlying stock.

In order to understand this, let’s think other side of the transaction in call options where a person has written a call option and leaves the right to buy (or obliged to sell) a certain amount of share at a certain price but does not own the underlying securities. This strategy is basically adopted by the investor when they are very speculative or think that share prices are not going to move upward.

In this type of strategy, the seller earns through premium paid by the buyer. However, the losses would be unlimited theoretically, if share prices move upward and exercised by the buyer. Therefore, there is limited profit with a huge potential of upside risk.

Further, the payoff for writing naked call options would be as similar as writing covered call. The only difference is at the time of exercise by the buyer, the seller has to purchase the underlying from the market or alternatively has to borrow the shares from the broker and sell it to the buyer at the strike price.

Writing Naked Call Example

Let’s assume shares of ABC is currently trading at $800/- and the call option for a strike price of $1000/- with a maturity of one month and premium of $50/-. Here, I can sell a naked call (suppose I am not owing shares of ABC) and earn an amount of $50/- through premium. By doing so, I am deliberately speculating that share price of ABC shall not move beyond $850/- ($800 + Premium of $50) till the expiration of the contract. In this strategy, I shall start incurring losses once ABC stock start moving from the level of $850/- and it can be theoretically unlimited. Hence, there is a huge potential of making a loss through upside risk and limited potential of making a profit.

Let’s consider another example:

Suppose an investor sells a naked call option of XYZ stock for a strike price of $500/- at a premium of $10/- (since it is a short naked call option, he obviously doesn’t hold the shares of XYZ) with a maturity of one month.

Suppose, after one month, the share price of XYZ moves to $800/- on expiry date. Since the option is in the money leading the same to be exercised by the buyer, the investor has to buy the shares of XYZ from the market at a price of $800/- and sell it to the buyer at $500/-. Here, the investor makes a loss of $300/-. Had the share price of XYZ been moved to $400/-, it would have earned the premium as in this scenario options expires out of the money and will not be exercised by the buyer. The pay-offs are summarized below.

Design/Whiteboards/Options/Writer

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Categories

Generic These settings are necessary for LibreOffice to be usable for everyone and, as such, comply with our design principles.
Advanced These settings aren’t necessary for the usability of LibreOffice and don’t comply with our design principles.
Contextual These settings are relevant only in special situations and should be presented elsewhere in the UI.
Unnecessary These settings can be gotten rid of as they have been obviated by a change in LibreOffice’s behavior/functionality.
New These settings are not currently found in the Writer section of the Options dialog but are in fact Writer-specific options.
Ask We need more information on these settings to be able to reach a decision.
These settings are yet to be sorted.

Options

LibreOffice Writer

General

Update
Update links when loading
Available options:
  • Always: Always updates links while loading a document.
  • On Request: Updates links only on request while loading a document.
  • Never: Links are never updated while loading a document.
Automatically
Available checkboxes:
  • Fields: The contents of all fields are updated automatically whenever the screen contents are displayed as new. Even with this box unchecked, some fields are updated each time a special condition takes place. The following table lists the fields that are updated without regard to this checkbox.
Condition Automatically updated fields
Printing the document (also exporting as PDF) Author, Sender, Chapter, Date, Time, References, Last printed
Reloading the document Author, Sender, Chapter, Date, Time
Saving the document File name, Statistics, Document number, Editing time, Modified
Editing the text line where the field is in Author, Sender, Chapter, Date, Time
Manually changing a variable Conditional text, Hidden text, Hidden paragraph, Variables, DDE field
Switching off “fixed content” Author, Sender, all document information fields
Changing the page count Page
  • Charts: Specifies whether to automatically update charts. Whenever a Writer table cell value changes and the cursor leaves that cell, the chart that displays the cell value is updated automatically.

Settings
Measurement unit Generic
Specifies the unit of measurement for text documents. Should be global
Tab stops Contextual
Specifies the spacing between the individual tab stops. The horizontal ruler displays the selected spacing. Should be solved by allowing the user to edit the default Writer template
Enable char unit Contextual
When this setting is enabled, the measurement units of indents and spacing on Format – Paragraph – Indents & Spacing tab will be character (ch) and line. Have unit selectors in dialogs
Use square page mode for text grid
When this setting is enabled, the text grid will look like square page. Square page is a kind of page layout which is used to train students to write articles in China and Japan.
Guides

Specifies settings that refer to the representation of boundaries.

Helplines While Moving Contextual
Displays snap lines around the frames when frames are moved. You can select the Helplines While Moving option to show the exact position of the object using lineal values. Should be in the View menu

Specifies whether scrollbars and rulers are displayed.

Horizontal scrollbar Unnecessary
Displays the horizontal scrollbar.
Vertical scrollbar Unnecessary
Displays the vertical scrollbar.
Horizontal ruler Unnecessary
Displays the horizontal ruler.
Vertical ruler Advanced
Displays the vertical ruler.
Ruler measurement unit Unnecessary
Select the desired measurement unit for rulers from the corresponding list. Should use the default measurement unit.
Right-aligned
These commands can only be accessed after you enable support for Asian languages in Tools – Options – Language Settings – Languages.

Aligns the vertical ruler with the right border.

Smooth scroll Advanced
Activates the smooth page scrolling function. The scrolling speed depends of the area and of the color depth display. Should be on by default when good enough
Display

Defines which document elements are displayed.

Graphics and objects Contextual
Specifies whether to display graphics and objects on the screen. If these elements are hidden, you will see empty frames as placeholders.

You can also control the display of graphics through the Graphics On/Off icon. If a text document is open, this icon is displayed on the Tools bar. If the Graphics and objects option is not selected, no graphics will be loaded from the Internet. Graphics within a table and without an indication of their size can cause display problems when using an older HTML standard on the browsed page.

Move the option to “View”. If the document takes too long to load because of images, don’t load them and show an infobar offering to load them anyway.
Tables Contextual
Displays the tables contained in your document.

To display the table boundaries, right-click any table and choose Table Boundaries, or choose Table – Table Boundaries in a Writer document.

Same as “Graphics and Objects”.
Drawings and controls Contextual
Displays the drawings and controls contained in your document. Same as “Graphics and Objects”.
Field codes Contextual
Displays the field names in the document instead of the contents of the fields. You can also choose View – Fields in a text document. Same as “Graphics and Objects”.
Comments Contextual
Displays comments. Click a comment to edit the text. Use the context menu in Navigator to locate or delete a comment. Use the comments’s context menu to delete this comment or all comments or all comments of this author. Same as “Graphics and Objects”.

Formatting Aids

Display of

Defines which non-printing characters are visible on screen. Activate the Non-printing Characters icon on the Standard bar. All characters that you have selected on the Formatting Aids tab page will be displayed.

Paragraph end Advanced
Specifies whether paragraph delimiters are displayed. The paragraph delimiters also contain paragraph format information.
Custom hyphens Advanced
Specifies whether user-defined delimiters are displayed. These are hidden delimiters that you enter within a word by pressing Ctrl+Hyphen(-). Words with user-defined delimiters are only separated at the end of a line at the point where a user-defined delimiter has been inserted, irrespective of whether the automatic hyphenation is activated or deactivated.
Spaces Advanced
Specifies whether to represent every space in the text with a dot.
Non-breaking spaces Advanced
Specifies that non-breaking spaces are shown as gray boxes. Non-breaking spaces are not broken at the end of a line and are entered with the Ctrl+Shift+Spacebar shortcut keys.
Tabs Advanced
Specifies that tab stops are displayed as small arrows.
Breaks Advanced
Displays all line breaks inserted with the Shift+Enter shortcut. These breaks create a new line, but do not start a new paragraph.
Hidden text Advanced
Displays text that uses the character format “hidden”, when View – Non-printing Characters is enabled.
Fields: Hidden text (not for HTML documents) Advanced
Displays text that is hidden by Conditional Text or Hidden Text fields.
Fields: Hidden paragraphs (not for HTML documents) Advanced
If you have inserted text using the Hidden Paragraph field, specifies whether to display the hidden paragraph. This option has the same function as the menu commands When in Writer: View – Hidden Paragraphs available in open text documents.
Direct cursor

Defines all the properties of the direct cursor (not for HTML documents).

Direct cursor Generic
Activates the direct cursor. You can also activate this function by clicking the When in Writer: Direct Cursor On/Off icon in a text document.
Insert Advanced
Defines the insert options for the direct cursor. If you click at any position in your document, a new paragraph can be written or inserted exactly at this position. The properties of this paragraph depend on the selected option. You can select from the following options:
  • Paragraph alignment: Sets the paragraph alignment when the direct cursor is used. Depending on where the mouse is clicked, the paragraph is formatted left aligned, centered or right aligned. The cursor before the mouse-click shows, by means of a triangle, which alignment is set.
  • Left paragraph margin: When the direct cursor is used, the left paragraph indent is set at the horizontal position where you click the direct cursor. The paragraph is left aligned.
  • Tabs: When the direct cursor is used, as many tabs as necessary are added in the new paragraph until the clicked position is reached.
  • Tabs and Spaces: When the Direct Cursor is used, a corresponding number of tabs and spaces are inserted in the new paragraph as necessary until the clicked position is reached. All insert options refer only to the current paragraph generated with the Direct Cursor.
Cursor in protected areas Advanced
You can select the following checkbox:
  • Enable: Specifies that you can set the cursor in a protected area, but cannot make any changes.
Snap to grid Contextual
Specifies whether to move frames, drawing elements, and controls only between grid points. To change the status of the snap grip only for the current action, drag an object while holding down the Ctrl key. Move to “View -> Grid -> Snap to Grid”.
Visible grid Contextual
Specifies whether to display the grid. Move to “View -> Grid -> Display Grid”.
Resolution
Horizontal Generic
Defines the unit of measure for the spacing between grid points on the X-axis.
Vertical Generic
Defines the grid points spacing in the desired unit of measurement on the Y-axis.
Subdivision
Horizontal Generic
Specify the number of intermediate spaces between grid points on the X-axis.
Vertical Generic
Specify the number of intermediate spaces between grid points on the Y-axis.
Synchronize axes Generic
Specifies whether to change the current grid settings symmetrically. The resolution and subdivision for the X and Y axes remain the same.

When in Draw: There are additional commands on the context menu of a page:When in Impress: There are additional commands on the context menu of a page:

Basic Fonts (Western)

Default Generic
Specifies the font to be used for the Default Paragraph Style. The Default Paragraph Style font is used for nearly all Paragraph Styles, unless the Paragraph Style explicitly defines another font.
Heading Generic
Specifies the font to be used for headings.
List Unnecessary
Specifies the fonts for lists and numbering and all derived styles.

When you choose When in Writer: Format – Numbering/Bullets to format a paragraph with numbers or bullets in a text document, the program assigns these Paragraph Styles automatically.

Caption Unnecessary
Specifies the font used for the captions of images and tables.
Index Unnecessary
Specifies the font used for indexes, alphabetical indexes, and tables of contents.
Current document only Unnecessary
Specifies that the settings apply to the current document only.

Standard

Resets the values visible in the dialog back to the default installation values. A confirmation does not appear before the defaults are reloaded. This button might actually be called Default.

Basic Fonts (CTL)

Specifies the settings for basic fonts for complex text layout languages if their support has been activated under Tools – Options – Language Settings – Languages.

Default Generic
Specifies the font to be used for the Default Paragraph Style. The Default Paragraph Style font is used for nearly all Paragraph Styles, unless the Paragraph Style explicitly defines another font.
Heading Generic
Specifies the font to be used for headings.
List Unnecessary
Specifies the fonts for lists and numbering and all derived styles.

When you choose When in Writer: Format – Numbering/Bullets to format a paragraph with numbers or bullets in a text document, the program assigns these Paragraph Styles automatically.

Caption Unnecessary
Specifies the font used for the captions of images and tables.
Index Unnecessary
Specifies the font used for indexes, alphabetical indexes, and tables of contents.
Current document only Unnecessary
Specifies that the settings apply to the current document only.

Standard

Default Generic
Resets the values visible in the dialog back to the default installation values. A confirmation does not appear before the defaults are reloaded. Should be renamed “Reset to Default”

Print

Specifies print settings within a text or HTML document. Choose Tools – Options – LibreOffice Writer/ LibreOffice Writer/Web – Print The print settings defined on this tab page apply to all subsequent print jobs, until you change the settings again. If you want to change the settings for the current print job only, use the File – Print dialog.

Contents

Specifies which document contents are to be printed.

Pictures and objects Generic
Specifies whether the graphics of your text document are printed.
Form controls Generic
Specifies whether the form control fields of the text document are printed.
Page background Generic
Specifies whether to include colors and objects that are inserted to the background of the page (Format – Page – Background) in the printed document.
Print black Generic
Specifies whether to always print text in black.
Hidden text Generic
Enable this option to print text that is marked as hidden. The following hidden text is printed: text that is formatted as hidden by Format – Character – Font Effects – Hidden, and the text fields Hidden text and Hidden paragraphs.
Text placeholder Generic
Enable this option to print text placeholders. Disable this option to leave the text placeholders blank in the printout.Text placeholders are fields.
Pages
Left pages (not for HTML documents) Generic
Specifies whether to print all left (even numbered) pages of the document.
Right pages (not for HTML documents) Generic
Specifies whether to print all right (odd numbered) pages of the document.
Brochure Generic
Select the Brochure option to print your document in brochure format. The brochure format is as follows in LibreOffice Writer:

If you print a document in portrait on a landscape page, two opposing sides in a brochure will be printed next to each other. If you have a printer with double-sided printing capability, you can create an entire brochure from your document without having to collate the pages later. If you have a printer that only has single-sided printing capability, you can achieve this effect by first printing the front pages with the “Front sides / right pages /odd pages” option marked, then re-inserting the entire paper stack in your printer and printing all the back pages with the “Back pages / left pages / even pages” option marked.

Comments

Specifies whether comments in your document are printed. The following options are available (radio buttons):

  • None
  • Comments only
  • End of document
  • End of page
Other
Print automatically inserted blank pages Generic
If this option is enabled, automatically-inserted blank pages are being printed. This is best if you are printing double-sided. For example, in a book, a “chapter” paragraph style has been set to always start with an odd numbered page. If the previous chapter ends on an odd page, LibreOffice inserts an even numbered blank page. This option controls whether to print that even numbered page or not.
Paper tray from printer settings Generic
For printers with multiple trays, the “Paper tray from printer settings” option specifies whether the paper tray used is specified by the system settings of the printer.
Fax Generic
If you have installed fax software on your computer and wish to fax directly from the text document, select the desired fax machine.

Table

Defines the attributes of tables in text documents. Specifies the default settings for columns and rows and the table mode. Also specifies the standard values for moving and inserting columns and rows. For further information see When in Writer: Editing Tables Using the Keyboard in the LibreOffice Writer Help. Choose Tools – Options – LibreOffice Writer/LibreOffice Writer/Web – Table

Default

Defines the defaults for all newly created text tables in text documents.

Heading Advanced
Specifies that the first row of the table is formatted with the “Table heading” Paragraph Style. LibreOffice should remember the last choice made under Insert > Table; Table Properties should be added to the Properties sidebar
Repeat on each page Advanced
Specifies whether the table heading is carried over onto the new page after a page break. LibreOffice should remember the last choice made under Insert > Table; Table Properties should be added to the Properties sidebar
Do not split (not in HTML) Advanced
Specifies that tables are not split by any type of text flow break. You can also find this option in menu Table – Table Properties – Text Flow. LibreOffice should remember the last choice made under Insert > Table; Table Properties should be added to the Properties sidebar
Border Advanced
Specifies that table cells have a border by default. LibreOffice should remember the last choice made under Insert > Table; Table Properties should be added to the Properties sidebar
Input in tables
Number recognition Generic
Specifies that numbers in a text table are recognized and formatted as numbers.

If Number recognition is not marked, numbers are saved in text format and are automatically left-aligned.

Could be Advanced if this cell setting was present in the sidebar and the last choice made was remembered
Number format recognition Ask
If Number format recognition is not marked, only input in the format that has been set at the cell is accepted. Any other input resets the format to Text.
Alignment Generic
Specifies that numbers are always bottom right aligned in the cell. If this field is not marked numbers are always top left aligned in the cell. Direct formatting is not influenced by the Alignment field. If you center align the cell contents directly, they remain centered irrespective of whether text or numbers are involved. Could be Advanced if this cell setting was present in the sidebar and the last choice made was remembered
Keyboard handling
Move cells Advanced
Defines the default settings for moving rows and columns with the keyboard.

  • Row: Specifies the value to be used for moving a row.
  • Column: Specifies the value to be used for moving a column.
Insert Advanced
Specifies the default settings for inserting rows and columns with the keyboard.
  • Row: Specifies the default value for inserting rows.
  • Column: Specifies the default value for inserting columns.
Behavior of rows/columns Advanced
Determines the relative effect of rows and columns on adjacent rows or columns, as well as on the entire table.
  • Fixed: Specifies that changes to a row or column only affect the corresponding adjacent area.
  • Fixed, proportional: Specifies that changes to a row or column have an effect on the entire table.
  • Variable: Specifies that changes to a row or column affect the table size.
LibreOffice should remember the last choice made under Table Properties > Columns; Table Properties should be added to the Properties sidebar

Changes

Defines the appearance of changes in the document. To record or show changes in your text or spreadsheet document, choose Edit – Changes – Record or Edit – Changes – Show. Open a text document, choose Tools – Options – LibreOffice Writer – Changes

Text display

Defines the settings for displaying recorded changes. Select the type of change and the corresponding display attribute and color. The preview field shows the effect of the selected display options.

Insertions / Attributes
Specifies how changes in the document are displayed when text is inserted.
Deletions / Attributes
Specifies how changes in the document are displayed when text is deleted. If you record text deletions, the text is displayed with the selected attribute (for example, strikethrough) and is not deleted.
Changed attributes / Attributes
Defines how changes to text attributes are displayed in the document. These changes affect attributes such as bold, italic or underline.
Color
You can also choose a color to display each type of recorded change. When you choose the condition “By author” in the list, the color is automatically determined by LibreOffice, then modified to match to the author of each change.
Lines changed

To indicate which lines of the text have been changed, you can define a mark that appears in the left or right page margin.

Mark
Defines if and where changed lines in the document are marked. You can set the markings so that they always appear on the left or right page margin, or on the outer or inner margin.
Color
Specifies the color for highlighting the changed lines in the text.
Preview Field
Displays a preview of the current selection.

Compatibility

Specifies compatibility settings for text documents. These options help in fine-tuning LibreOffice when importing Microsoft Word documents.

Some of the settings defined here are only valid for the current document and must be defined separately for each document.

“> Compatibility options for
Use printer metrics for document formatting
Specifies that printer metrics are applied for printing and also for formatting the display on the screen. If this box is not checked, a printer independent layout will be used for screen display and printing.

Note.png If you set this option for the current document and then save the document, for example, in an older binary format, this option will not be saved. If you later open the file from the older format, this option will be set by default.

Add spacing between paragraphs and tables (in current document)
In LibreOffice Writer, paragraph spacing is defined differently than in MS Word documents. If you have defined spacing between two paragraphs or tables, spacing is also added in the corresponding MS Word documents.

Specifies whether to add MS Word-compatible spacing between paragraphs and tables in LibreOffice Writer text documents.

Add paragraph and table spacing at tops of pages (in current document)
Specifies whether paragraph spacing at the top of a page will also be effective at the beginning of a page or column if the paragraph is positioned on the first page of the document. The same applies for a page break.

Note.png If you import an MS Word document, the spaces are automatically added during the conversion.

Use OpenOffice.org 1.1 tab stop formatting
Specifies how to align text at tab stops beyond the right margin, how to handle decimal tab stops, and how to handle tab stops close to a line break. If this check box is not selected, tab stops are handled in the same way as in other Office applications.

In text documents created by your current version of Writer, the new tab stop handling is used by default. In text documents created by Writer versions prior to StarOffice 8 or OpenOffice.org 2.0, the old tab stop handling is applied.

Do not add leading (extra space) between lines of text
Specifies that additional leading (extra space) between lines of text is not added, even if the font in use contains the additional leading attribute.

In text documents created by your current version of Writer, the additional leading is used by default. In text documents created by Writer versions prior to StarOffice 8 or OpenOffice.org 2.0, the additional leading is not used.

Use OpenOffice.org 1.1 line spacing
If the option is off, a new process for formatting text lines with proportional line spacing will be applied. If the option is on, the previous method of formatting of text lines with proportional line spacing will be applied.

In text documents created by your current version of Writer and in Microsoft Word documents of recent versions, the new process is used. In text documents created by Writer versions prior to StarOffice 8 or OpenOffice.org 2.0, the previous process is used.

Add paragraph and table spacing at bottom of table cells
Specifies that the bottom spacing is added to a paragraph, even when it is the last paragraph in a table cell.

If the option is off, table cells will be formatted as in Writer versions prior to StarOffice 8 or OpenOffice.org 2.0. If the option is on, an alternative method of formatting table cells will be applied. The option is on by default for new documents created with LibreOffice and for documents imported from Microsoft Word format.

Use OpenOffice.org 1.1 object positioning
Specifies how to calculate the position of floating objects anchored to a character or paragraph with respect to the top and bottom paragraph spacing.

If the option is on, the floating objects are positioned as in Writer versions prior to StarOffice 8 or OpenOffice.org 2.0. If the option is off, the floating objects are positioned using an alternative method that is similar to the method used by Microsoft Word. The option will be set to off for new documents. For Writer documents created by a version prior to OpenOffice.org 2.0 the option is on.

Use OpenOffice.org 1.1 text wrapping around objects
MS Word and Writer have different approaches on wrapping text around floating screen objects. Floating screen object are Writer frames and drawing objects, and the objects ‘text box’, ‘graphic’, ‘frame’, ‘picture’ etc. in MS Word.

In MS Word and in current versions of Writer, page header/footer content and footnote/endnote content does not wrap around floating screen objects. Text body content wraps around floating screen objects which are anchored in the page header. In Writer versions prior to StarOffice 8 or OpenOffice.org 2.0, the opposite was true. If the option is off, which is the default setting, the new text wrapping will be applied. If the option is on, the former text wrapping will be applied.

Consider wrapping style when positioning objects
Specifies how the complex process of positioning floating objects that are anchored to a character or paragraph should work. In Writer versions prior to StarOffice 8 or OpenOffice.org 2.0, an iterative process was used, while in current versions a straightforward process is used, which is similar to the same process in Microsoft Word.

If the option is off, the old LibreOffice iterative process of object positioning is used. If the option is on, the new straightforward process is used to ensure compatibility with Microsoft Word documents.

Expand word space on lines with manual line breaks in justified paragraphs
If enabled, Writer adds spacing between words, in lines that end with Shift+Enter in justified paragraphs. If disabled, spacing between words will not be expanded to justify the lines.

This setting is on by default for .odt text documents. It will be saved and loaded with the document in the .odt text document format. This setting cannot be saved in old .sxw text documents, so this setting is off for .sxw text documents.

Use as Default
Click to use the current settings on this tab page as the default for further sessions with LibreOffice.

The factory defaults are set as follows. Enabled are the following options, while all other options are disabled: Add spacing between paragraphs and tables (in current document) Add paragraph and table spacing at tops of pages (in current document) Add paragraph and table spacing at bottom of table cells Expand word space on lines with manual line breaks in justified paragraphs

AutoCaption

Specifies the settings for captions that are automatically added to inserted objects.

Add captions automatically when inserting

Select the object type for which the AutoCaption settings are to be valid.

Caption

Defines the options to be applied to the selected object type. These options are identical to those in the Insert – Caption menu, which is available when an object is selected. Below the settings is a preview of the object category, together with numbering type.

Category
Specifies the category of the selected object.
Numbering
Specifies the type of numbering required.
Separator
Defines the character to be displayed after the number of the heading or chapter level.
Position
Determines the position of the caption with respect to the object.
Numbering captions by chapter
Level
Specifies the headings or chapter levels where you want the numbering to start.

Defines the character to be displayed after the number of the heading or chapter level.

Category and frame format
Character style
Specifies the character style.
Apply border and shadow
Applies the border and shadow of the object to the caption frame.

Mail Merge E-mail

Specifies the user information and server settings for when you send form letters as e-mail messages.

User information

Enter the user information to use when you send e-mail.

Your name
Enter your name.
E-mail address
Enter your e-mail address for replies.
Send replies to different e-mail address
Uses the e-mail address that you enter in the Reply address text box as the reply-to e-mail address.
Reply address
Enter the address to use for e-mail replies.
Outgoing server (SMTP) settings

Specify the server settings for outgoing e-mails.

Server name
Enter the SMTP server name.
Port
Enter the SMTP port.
Use secure connection
When available, uses a secure connection to send e-mails.
Server Authentication
Opens the Server Authentication dialog where you can specify the server authentication settings for secure e-mail.
Test Settings
Opens the Test Account Settings dialog to test the current settings.

LibreOffice Writer/Web

Snap Lines

Specifies settings that refer to the representation of boundaries.

Helplines While Moving
Displays snap lines around the frames when frames are moved. You can select the Helplines While Moving option to show the exact position of the object using lineal values.
Helplines While Moving
Displays snap lines around the frames when frames are moved. You can select the Helplines While Moving option to show the exact position of the object using lineal values.

Specifies whether scrollbars and rulers are displayed.

Horizontal scrollbar
Displays the horizontal scrollbar.
Vertical scrollbar
Displays the vertical scrollbar.
Ruler
Enables the rulers. Use the following two check boxes to select the ruler(s) to be shown.
Horizontal ruler
Displays the horizontal ruler. Select the desired measurement unit from the corresponding list.
Vertical ruler
Displays the vertical ruler. Select the desired measurement unit from the corresponding list.
Right-aligned
These commands can only be accessed after you enable support for Asian languages in Tools – Options – Language Settings – Languages.

Aligns the vertical ruler with the right border.

Smooth scroll
Activates the smooth page scrolling function. The scrolling speed depends of the area and of the color depth display.
Display

Defines which document elements are displayed.

Graphics and objects
Specifies whether to display graphics and objects on the screen. If these elements are hidden, you will see empty frames as placeholders.

You can also control the display of graphics through the Graphics On/Off icon. If a text document is open, this icon is displayed on the Tools bar. If the Graphics and objects option is not selected, no graphics will be loaded from the Internet. Graphics within a table and without an indication of their size can cause display problems when using an older HTML standard on the browsed page.

Tables
Displays the tables contained in your document.

To display the table boundaries, right-click any table and choose Table Boundaries, or choose Table – Table Boundaries in a Writer document.

Drawings and controls
Displays the drawings and controls contained in your document.
Field codes
Displays the field names in the document instead of the contents of the fields. You can also choose View – Fields in a text document.
Comments
Displays comments. Click a comment to edit the text. Use the context menu in Navigator to locate or delete a comment. Use the comments’s context menu to delete this comment or all comments or all comments of this author.
Settings (for HTML document only)
Measurement unit (for HTML document only)
Specifies the Unit for HTML documents.

Formatting Aids

Display of

Defines which non-printing characters are visible on screen. Activate the Non-printing Characters icon on the Standard bar. All characters that you have selected on the Formatting Aids tab page will be displayed.

Paragraph end
Specifies whether paragraph delimiters are displayed. The paragraph delimiters also contain paragraph format information.
Custom hyphens
Specifies whether user-defined delimiters are displayed. These are hidden delimiters that you enter within a word by pressing Ctrl+Hyphen(-). Words with user-defined delimiters are only separated at the end of a line at the point where a user-defined delimiter has been inserted, irrespective of whether the automatic hyphenation is activated or deactivated.
Spaces
Specifies whether to represent every space in the text with a dot.
Non-breaking spaces
Specifies that non-breaking spaces are shown as gray boxes. Non-breaking spaces are not broken at the end of a line and are entered with the Ctrl+Shift+Spacebar shortcut keys.
Tabs
Specifies that tab stops are displayed as small arrows.
Breaks
Displays all line breaks inserted with the Shift+Enter shortcut. These breaks create a new line, but do not start a new paragraph.
Hidden text
Displays text that uses the character format “hidden”, when View – Non-printing Characters is enabled.
Insert
Defines the insert options for the direct cursor. If you click at any position in your document, a new paragraph can be written or inserted exactly at this position. The properties of this paragraph depend on the selected option. You can select from the following options:
  • Paragraph alignment: Sets the paragraph alignment when the direct cursor is used. Depending on where the mouse is clicked, the paragraph is formatted left aligned, centered or right aligned. The cursor before the mouse-click shows, by means of a triangle, which alignment is set.
  • Left paragraph margin: When the direct cursor is used, the left paragraph indent is set at the horizontal position where you click the direct cursor. The paragraph is left aligned.
  • Tabs: When the direct cursor is used, as many tabs as necessary are added in the new paragraph until the clicked position is reached.
  • Tabs and Spaces: When the Direct Cursor is used, a corresponding number of tabs and spaces are inserted in the new paragraph as necessary until the clicked position is reached. All insert options refer only to the current paragraph generated with the Direct Cursor.
Cursor in protected areas
You can select the following checkbox:
  • Enable: Specifies that you can set the cursor in a protected area, but cannot make any changes.
Snap to grid
Specifies whether to move frames, drawing elements, and controls only between grid points. To change the status of the snap grip only for the current action, drag an object while holding down the Ctrl key.
Visible grid
Specifies whether to display the grid.
Resolution
Horizontal
Defines the unit of measure for the spacing between grid points on the X-axis.
Vertical
Defines the grid points spacing in the desired unit of measurement on the Y-axis.
Subdivision
Horizontal
Specify the number of intermediate spaces between grid points on the X-axis.
Vertical
Specify the number of intermediate spaces between grid points on the Y-axis.
Synchronize axes
Specifies whether to change the current grid settings symmetrically. The resolution and subdivision for the X and Y axes remain the same.

When in Draw: There are additional commands on the context menu of a page:When in Impress: There are additional commands on the context menu of a page:

Specifies print settings within a text or HTML document. Choose Tools – Options – LibreOffice Writer/ LibreOffice Writer/Web – Print The print settings defined on this tab page apply to all subsequent print jobs, until you change the settings again. If you want to change the settings for the current print job only, use the File – Print dialog.

Contents

Specifies which document contents are to be printed.

Pictures and objects
Specifies whether the graphics of your text document are printed.
Form controls
Specifies whether the form control fields of the text document are printed.
Page background
Specifies whether to include colors and objects that are inserted to the background of the page (Format – Page – Background) in the printed document.
Print black
Specifies whether to always print text in black.
Hidden text
Enable this option to print text that is marked as hidden. The following hidden text is printed: text that is formatted as hidden by Format – Character – Font Effects – Hidden, and the text fields Hidden text and Hidden paragraphs.
Text placeholder
Enable this option to print text placeholders. Disable this option to leave the text placeholders blank in the printout.Text placeholders are fields.
Pages
Brochure
Select the Brochure option to print your document in brochure format. The brochure format is as follows in LibreOffice Writer:

If you print a document in portrait on a landscape page, two opposing sides in a brochure will be printed next to each other. If you have a printer with double-sided printing capability, you can create an entire brochure from your document without having to collate the pages later. If you have a printer that only has single-sided printing capability, you can achieve this effect by first printing the front pages with the “Front sides / right pages /odd pages” option marked, then re-inserting the entire paper stack in your printer and printing all the back pages with the “Back pages / left pages / even pages” option marked.

Comments

Specifies whether comments in your document are printed. The following options are available (radio buttons):

  • None
  • Comments only
  • End of document
  • End of page
Other
Print automatically inserted blank pages
If this option is enabled, automatically-inserted blank pages are being printed. This is best if you are printing double-sided. For example, in a book, a “chapter” paragraph style has been set to always start with an odd numbered page. If the previous chapter ends on an odd page, LibreOffice inserts an even numbered blank page. This option controls whether to print that even numbered page or not.
Paper tray from printer settings
For printers with multiple trays, the “Paper tray from printer settings” option specifies whether the paper tray used is specified by the system settings of the printer.
Fax
If you have installed fax software on your computer and wish to fax directly from the text document, select the desired fax machine.

Table

Defines the attributes of tables in text documents. Specifies the default settings for columns and rows and the table mode. Also specifies the standard values for moving and inserting columns and rows. For further information see When in Writer: Editing Tables Using the Keyboard in the LibreOffice Writer Help. Choose Tools – Options – LibreOffice Writer/LibreOffice Writer/Web – Table

Default

Defines the defaults for all newly created text tables in text documents.

Heading
Specifies that the first row of the table is formatted with the “Table heading” Paragraph Style.
Repeat on each page
Specifies whether the table heading is carried over onto the new page after a page break.
Border
Specifies that table cells have a border by default.
Input in tables
Number recognition
Specifies that numbers in a text table are recognized and formatted as numbers.

If Number recognition is not marked, numbers are saved in text format and are automatically left-aligned.

Number format recognition
If Number format recognition is not marked, only input in the format that has been set at the cell is accepted. Any other input resets the format to Text.
Alignment
Specifies that numbers are always bottom right aligned in the cell. If this field is not marked numbers are always top left aligned in the cell. Direct formatting is not influenced by the Alignment field. If you center align the cell contents directly, they remain centered irrespective of whether text or numbers are involved.
Keyboard handling
Move cells
Defines the default settings for moving rows and columns with the keyboard.

  • Row: Specifies the value to be used for moving a row.
  • Column: Specifies the value to be used for moving a column.
Insert
Specifies the default settings for inserting rows and columns with the keyboard.
  • Row: Specifies the default value for inserting rows.
  • Column: Specifies the default value for inserting columns.
Behavior of rows/columns
Determines the relative effect of rows and columns on adjacent rows or columns, as well as on the entire table.
  • Fixed: Specifies that changes to a row or column only affect the corresponding adjacent area.
  • Fixed, proportional: Specifies that changes to a row or column have an effect on the entire table.
  • Variable: Specifies that changes to a row or column affect the table size.

Background

Specifies the background for HTML documents. The background is valid for both new HTML documents and for those that you load, as long as these have not defined their own background. Further information is at [1].

Resets modified values back to the LibreOffice default values.

Game writers explain how character diversity prevents boredom and repetition

Game writers talk about the importance of diversity

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Video game developers should aim to be as inclusive as possible when designing characters for their games because this allows them to explore fresh perspectives and stories, according to a panel of developers who spoke at a PAX panel in Seattle today.

During the panel, titled “Everything we know is sexist. Now what?”, writers, community managers and narrative designers whose portfolios include games like Guild Wars 2, Murdered: Soul Suspect and Gears of War discussed the importance of character diversity and inclusiveness in the creative process. Speaking to a roomful of PAX attendees, the developers explained that when game-makers mindlessly use tropes and only feature straight, white male characters, they risk creating boring experiences for players.

“When people think about the lack of inclusiveness in games, there’s the political and social consequences which are unfairness and lack of opportunity, but there are also creative consequences, which are boredom and a real lack of expansion of the imagination,” said John Sutherland, a writer at VidGameStory.

“Picking a female protagonist or an LGBT protagonist opens a whole avenue for stories that have not been told. “

Matthew Moore, a game designer at ArenaNet echoed Sutherland’s sentiments, saying that diversity is important to creativity because “we don’t want to revisit the same things again and again and again.

“We want to experience the breadth of creative experiences, and that’s not gonna happen if we just keep relying on tropes.”

“If you choose a straight, white male protagonist, that’s a story we’ve been trlling for several millenia,” Anna Megill, narrative designer at Airtight Games added. “But picking a female protagonist or an LGBT protagonist opens a whole avenue for stories that have not been told. These are fresh perspectives completely unexplored by our industry.

“I just can’t imagine that you, as a writer or producer or creative person, would not take advantage of that.”

The developers pointed out that being inclusive is not about political correctness. Rather, it’s about writing more interesting stories and experiences that have not been explored by the medium.

Cameron Harris, a freelance editor and story consultant who has worked for BioWare and ArenaNet said there can often be legitimate contexts where every character in a game is straight, white and male, and it’s OK to use tropes — as long as it’s not a result of laziness.

“Be mindful of what you’re doing,” Harris said. “Don’t just fall into the habit of, ‘Oh I’ll just write this and think about it later. ‘ Make sure you’re interrogating yourself. Am I being inclusive of other points of view that aren’t necessarily mine? Look over your work and ask, ‘Does everyone have to be a man here? Does everybody have to be straight? Doesn’t everybody have to be white?'”

The panel suggested that developers interrogate their own work by doing gender-flipping exercises and sharing it with people who have different backgrounds to their own.

“Read, watch and play other things by people who aren’t like us,” Harris said. “Question what you can gain from telling stories from another point of view.”

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