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Simpler to just buy an ITM call spread rather than an ITM covered call. You'll have less premium collected but now you have loss capped. Your margin requirement will be much lower so you can take on more call spreads compared to the covered call.

With the amount of volatility in this stock, I doubt the option would get exercised prior to the last day or 2 before expiration unless the price really runs away from the strike price. Either way, I'd close if I saw the premium drop too low rather than get assigned.

I'll make a slight correction to my post. Trader mentioned his max loss is $350. That's because he didn't collect the same premium from both the call spread & put spread so my calculation would only be correct if the premium collected would have been the same. Either way though, losses are capped.

His losses are capped. He's short calls & puts but also long calls & puts to limit the loss. His credit per condor is $415 so each condor has a risk of $85. $85x3=$255 plus commissions = max. loss

As GRULSTMRNN said above, for long-term investing just go with an ETF like SPY rather than pay a money manager or hedge fund. Holding fees are small and if you buy just 1 time each month, your commission costs will be low. Highly recommend adding options if you do a little research to...