Help me find the flaw, if any.

Hey all!! I'll keep this post kinda short as probably a "no duh" for you all if it works like I think.

I own 1300 shares of Mstr @ 44.50. I want to cover most of my initial investment at $200 and hold the rest for a good while.

I sold to open 2 calls nov 1st @ 200 for $11.50. Which netted me ~$2300. So if called away I get ~$42,300

I didn't realize I get the premium upfront. So I decided to buy 1 nov1 put @ 170 for $8.00 on mstr.

So, nov 1st comes. Mstr either above 200 and I get my sell(potentially). Maybe it's below 170 and I can execute and sell 100 shares at 170(potentially), or trade away the option on that day or before. Finally, the put expires worthless, but was paid for with call premium, so really no loss (in a sense).

Did I just get a "free" partial hedge? What am I missing? This seems too easy, and I never realized it before with options. Normally, I just tried to trade the contacts without holding a position in the name.

Is there a name for this strategy? Could I be doing something better to maximize the position? Are there any reading recommendations on this type of strategy?

Thanks in advance!