wake2000

it’s really not accurate to say writing covered calls provides downside protection.  maybe you say it lowers your implied cost basis, but having been on the floor of the CBOE, traded options for almost 20 years in my PA since i was a teenager, and worked at 3 different hedge funds where options were employed, it’s not appropriate to say it provides “downside protection”.  cuz it just doesn’t.  it’s an income generator and it lowers your cost basis.