### Comment:
True but Euro options would probably serve up smaller premiums. 
  
 If you cover by buying stock you're no longer doing a 'short volatility' play. You're just introducing more downside exposure. To me it loos like limited profit above 120 (Put premiums), and really bad losses below 45 (you lose money in the stock and the Put exercise).

### REPLY:
Where does one get Euro options...

### END.