The poor man's covered call is my personal best strategy, I'm up \~22% ytd, and honestly is mostly cause of this strategy.
I started with covered calls on SPY, but the short call premium over 100 shares worth, just wasn't worth it honestly especially on low-vol low grind days. Then I got introduced to PMCC through...I'm really not sure, but god bless whoever or whatever it is.
The shorts suddenly become so much more worth it compared to the cost of the LEAPs as long as your entry on your LEAP is, well good haha, you fuck up here you're chasing break even throughout the LEAP's life and by the time you think you've reached your strike, theta has eaten up most of the LEAP's value.
It's like renting a house for 1-2 years instead of buying a house at right but still enjoying as much rental income throughout the term.