DanPickUpji,
My idea was never to misguide people. As far as this strategy is concerned, I thought that it is so simple that people without knowing anything about options should be able to execute it. I think I need to write a book where I can explain in simple language:
What are options?
What are the advantages and disadvantages of it?
What is implied volatility?
How to compute price of options for put/call, different expiry date based on the base asset value, and volatility?
What is delta, gamma, theta, vega and rho?
How to use these?
What are the various strategies for trading options?
How options can be used for reducing risk of stocks and futures? .....