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Ah, all good points of course.
I guess I've inculcated these points from your previous posts (and btw, I've made significant money from your strategy, so thank you!), but it's good to make all the risks very explicit.
What intrigued me about this strategy is the perverse notion of essentially using leverage (the 50% DITM call) to buy protection.
If things don't go wonky (your points above), then you're effectively long, have ATM-ish put protection, and have money left over to boot (at least using numbers from the other day).
Again, I'm not suggesting that anyone do this now, the point of the post is simply to sketch out the general strategy.
