Short post, promise but a few graphs that will take up some space. JPM as example. First graph is a synthetic long selling a 1 week 110 call without the downside protection. Looks like a regular covered call and it should, it is a synthetic covered call (this is what motley fool does a lot of). Second graph uncapped, looks like buying stock but there is no downside protection so would have to have the cash or margin to buy at the put strike. Third graph is a #fuzzy with 5 point disaster protection put. Looks more like a long calendar spread because of the extra cost of the put protection. That is why you would want to sell weekly or monthly calls against it, to lower the cost basis on the debit of the leap spread and the put protection. I personally would probably go 10 points wide but this shows you could do it in a recently funded IRA for 5000 max risk if JPM is not too big to fail.
I am not recommending this trade but I think @smasty160 has a similar trade running.
Hope that helps for people trying to wrap their head around #fuzzies and learn visually, I know I learn better with a visual.