Sorry I misunderstood you. I thought that you were recommending a covered call only! and that you meanrt by CCS a covered call. I think I now understand what you mean (but maybe not). Now I understand that the covered call (which is a short put) and the long side of the bull call spread are almost like a stock (short put + long call, but at different strikes). The short call of the bull spread reduces the cost of the position. Interesting! Thanks for the clarification. Pls. let me know if I got it wrong.
Spin: After my previous post I re-read what you wrote and maybe I am not understanding the position your proposed, or I am miscalculating what's in my mind. In my mind the short call in the covered call (call1) is below current stock price. The long call (call2) of the bull spread is above current stock price. Therefore when stock is above (deep enough above) strike of call2 and below strike of short call3, the position should have a delta around 1 close to expiration. [Stock (+1)-Delta(call1)+Delta(call2)-Delta(call3)]. Since 1>= Delta(call1)>Delta(Call2)>Delta(call3), then why would the position move $2 for each $1 when stock moves up between strikes of call2 and call3? Maybe the placement of the strikes of call1 and call2 are not where you have them in your strategy. Thanks again for your clarifications.