Forgot to answer why I do this. I started using single hooks just because you had to on the rivers out on the coast. After I started down that path, I started trying to figure out a good single hook approach.

I use this approach because the it produces a hook location that is clear of the plug, but close to the plug. If I add a split ring to the setup to avoid having to pry open the hookkeepper, it makes the finished length longer than I like. I could shorten it by using a smaller hook, but I want the gap of the hook.

If I used just a split ring, with no swivel, the hook can't hang free, and may be twisted out of a fish's mouth due to leverage on the plug. I have used this rig for about a year now, and am pretty impressed with it's hookup efficiency. Nothing like chum season to prove out a rig.

Probably the real reason I do this is that I have too much time on my hands after the market closes.