[todd8]

If the strategy worked, that would mean that calls were overpriced. Why would that be? Why wouldn't their price reflect their value?

Since indexes by themselves have such low overhead costs, more complex strategies have difficulty generating superior returns.

[durkie]

that's a good point -- i suspect the s&p 500 receives so much attention in comparison to any particular individual stock that there is very probably little change to fish out of its couch cushions