Is that a good covered call trader, is a good stock picker. Those that are succuessfull as covered call writers, probably would be even more successful if they just went long the stocks. Likewise, a bad covered call writer, is a bad stock picker. But a bad covered call writer won't lose as much as a pure buy and holder. So if you are a bad stock picker, than writing covered calls will help you. But if you are any good, just buy the stocks.
According to my strategy you should have a far expiration put, in place so you are protected against any collapse. And in this case thinking about a possible rebound, you just wait the dust to settle and cash the put and replace it with another one just in the money. But you are right the cost of commission is a problem. You have to negotiate with your broker the lowest commission possible.