Well, mathematically you're constructing a synthetic put. You're giving up the potential upside in the stock while keeping all the downside risk. The "premium"

Well, mathematically you're constructing a synthetic put. You're giving up the potential upside in the stock while keeping all the downside risk. The "premium" or lotto ticket you're selling is your compensation for foregoing any upside past the option's strike. People seem to forget that, in general, options are fairly priced.