Everything I read states how risky this is (except in Elders new book). Seems like a good strategy in this bear market. They say how you are exposing yourself to unlimited loses but all you have to do if a postion goes against you is buy back the option. The only time you would ever have to deliver a contract is if the stock gapped opened above your strike price which I suppose would happen eventually if you played long enough. So what's the catch? Other than you need iron discipline. Anybody have success with this technique?