Nice strat. We name it of "covered launch" in Brazil (when you buy stocks in spot and sell calls as hedge), Idk if its the same name everywhere else... Otherwise uncovered sellings are very risk, yes, unlimited as you said, the capacity of the stock to keep going up... I sometimes like to buy cheap otm calls that could explode lol hahaha, but very hard to timming the market or even the price it could hit in a certain period, could make monthlys buyings too, Idk if its Taleb that says it, but is a strat where asymmetrical convexity can happen in payout curve, or even buying otm puts that way... However on options you can control your risk better than trading futures (but you could also use stops, yes)... I will read the "Hull" book sometime, am kind lazy... People like a lot delta neutral stuff too, right?! Very consistent... What you are doing is one of them.
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Yes, same we called it covered call.
It is a type of lottery, you can get a big amount or will lose ticket amount :-D
That's true!
Thanks for stopping by!