You can flip the float past your target, then reel in until the float and its payload are swirling merrily in the back eddy. You can let your lure swirl in the back eddy as long as you like. Try that with conventional gear and odds are your tackle will look as though its been in a blender. Next, you can fish the seams that form on either side of the boulder. If there's a fish in that pocket it will see your offering and it will have ample opportunity to strike.
Strikes usually come as the lure passes across stream or immediately after the drift stops.
Unfortunately, this presentation may move the lure so rapidly steelhead have little time to see the offering. In addition, the jerky presentation of bottom bouncing is completely unnatural. In low clear water bottom bouncing will often spook fish that could have been taken with a small float and light line. Detecting Strikes Veteran steelheaders tell us the one skill that separates the top rods from the wannabes is the ability to feel the subtle pick-up of a steelhead. Learning the elusive difference between a pick-up and a rock is vital, but difficult.