No, that is not correct. This has not been about right or wrong, it was about apples and oranges.
I have not referred to your strategies or constructions, I was simply emphasising to @BaconSandwich that the characteristic of a sold option is unlimited risk with a maximum gain limited to the premium, and not vice versa.
That is all. That is the simple basic fact about the nature of a sold option.
Implied in my comments concerning portfolios containing short options is that the unlimited risk of those short options components is also progressive since the exposure progressively increases as the market approaches the strike price and needs to be monitored continually if one is trying to maintain a risk neutral profile. Once, and as long as, the option is “in the money” then the open risk (of the option, not a strategy) effectively continues on a one-to-one basis with the price movements of the underlying.
Of course, these risk/exposure/potential parameters can be, and indeed should be, modified and modelled by various combinations to take full advantage of the additional dimensions that options offer. Maybe a bit like 3-dimensional chess.
But my purpose here was only to emphasise (to those unaware) what is the actual (factual) nature of the risk v.potential of a sold option compared with a bought option.
So let’s just leave it there.