He mentioned VXX will offset crashes. Use 40/40/20 %vixx is 20% SOXS 40% SOLS%SELL COVER CALLS and collect premium until the market crashes
Take this with a grain of salt because I know little about options strategies. I have no experience with VXX, but I can tell you that, when the market crashes, SOXS will shoot up. Then… Your SOXS covered calls end up in the money, so you pocket the premium and now have no shares of SOXS. Your SOXL will end OTM so you pocket the premium and take the loss on the shares. Now, you need to rebuy SOXS stock so you can sell a new covered call, except now you’re buying the stock at a high price. Market bounces back up, SOXS goes down. Remember, you rebought it when it was expensive. Next, the following week/month, you sell a new set of covered calls (or you already rolled them) and repeat. For me, the large swings of the underlying outweighed the premiums. Don’t forget though, I know little about options. All I can tell you is to SIM trade it for several months before jumping in. Hopefully someone that knows more about options can jump in here and help Search for covered call strategies with something like vxx and you’ll probably also find decay > premium