Yeah it is not a "Covered Call" trade by any definition I have ever heard. But of course calling it that sucks in the unaware. Definitely sounds like some form of high-leverage collar. And since we all know that risk and reward must balance out, there is plenty of risk there or every hedge fund and mom and pop would be slamming that trade till the cows come home. If it is so great and golden, why isn't he vewy vewy quiet about it and make millions hisself... Good luck to all.
Impossible to have risk go from '5% to zero' using covered calls, unless it's insider trading or there is something new in options theory that has never been discovered before, lol. db
I think between here and the comments on the blog that the strategy exposed and thoroughly trashed. Time to move on.