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Pro recommended writing covered calls on JNJ, why not write synthetic covered calls. The risk seems to be the same, but the capital invested is much less.

Hmmm …..

I have no idea what Pro does or doesn't suggest. But I find your 'seems to be the same' statement a bit odd. A synthetic covered call (naked put) should have the same 'probability of profit and loss' as a covered call. But one employs 'capital you have' (covered) and the other 'capital you don't have' (naked). That is really the difference between risk and probability, i.e. the 'effect of the outcome' vs the 'likelihood of the outcome'. If you have the capital, just idle (uninvested), the risk isn't much different I guess, but … then the capital requirement is the same.
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