Bad analogy. When you pre-order something you agree on the terms. In naked shorting when someone buys a share from a naked shorter in a stock exchange, they do

Bad analogy. When you pre-order something you agree on the terms. In naked shorting when someone buys a share from a naked shorter in a stock exchange, they do not agree to buy a fake share or a share that will not be delivered. Instead they expect to get a real share. So if the naked shorter does not deliver the share by the end of the three day period it is violation of contract.