### Comment:
But what if the short call gets assigned? You don't really have stock that can get called, and if you have to sell the leap you lose the premium?

### REPLY:
If the short, near term call gets assigned, you'll have to cover it somehow.  You can use your money to pay the difference between the stock and strike price, or exercise the long leg if the stock price is way, way over the strike of your long call. 
  
 It's not a terrible strategy, but not 'risk free'.

### END.