During this Episode, Russ discusses the Large Unprotected Covered Call or L.U.C.C trading strategy.  Large in that the share price is large (think Costco, Netflix, Intuitive Surgical, etc.).  Unprotected in the sense that the strategy doesn't buy insurance in  a protective put option at a lower price (like a collar trade).  It is essentially a large, In The Money (“ITM”) covered call.  It is protected from volatility and the large upfront cost by how far down in the money you select, and you give back some of the premium (the intrinsic value portion) - though give back is a misnomer in that it all happens automatically at the brokerage.  Several examples are given. 

 

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