This is not quite right.
The covered call you are describing is equal to selling a Put with the same strike price (\$105) and holding ( \$105 / (1+r) ) in the bank. If you draw the Payoff diagram this will become apparent.
Put call relationships are summarized as the Put-Call parity:
$$ S - C = D \cdot K - P $$
Where $S$ the underlying, $D$ is the discount factor and $K$ the strike price.
The left side is the covered call you are describing and the right side the Put plus cash. As a bonus, using this relationship you can calculate the no arbitrage price of the put!