shares are just long dated calls. There are plenty of routine covered call writers running the wheel from wealth managers to boomers like my dad.
But you are right that to you need to have the capital to face early assignment if you are short and the capital to take delivery if you are long volatility and liquidity is low relatively.
But you are right that to you need to have the capital to face early assignment if you are short and the capital to take delivery if you are long volatility and liquidity is low relatively.