That's a more accurate metaphor, but it's not usually better. There's two reasons to employ the "technical debt" metaphor - to get programmers to think about the issue, and to explain to external stakeholders why you need time for technical issues.

As a quick shorthand, "technical debt" works better than "technical unhedged call options" - and if you need to go back and explain what the hell is a call option, then you've lost your audience. Everyone understands the concept of debt already.