To wrap lead on with a rotary vise…
Start with a bare hook…no thread base or anything else, just the hook.
Stick the ‘tag end’ through the eye of the hook. This will ‘hold’ the lead wire so it doesn’t spin on the shank, allowing you to wrap it without having to hang onto the tag end.
Hold the lead directly under the hook (I just hold the spool, don’t understand why you’d need or want a bobbin, but to each his own).
Spin the vise, guiding the lead into touching turns as you go…You can do as few as two wraps, or wrap the entire shank, up to you…keep the lead spool under the hook the whole time…
When you have made the number of wraps you want, trim the end of the lead right next to the shank (cutters, scissors, pull and break it, pinch it off…stuff is soft, doesn’t matter how you cut/break it)…no waste at all here…then, pull the lead from the hook eye and hand wrap it until it’s used up, or just cut it (if you cut it, you may ‘waste’ 1/4 inch of lead…wrapping it doens’t waste any).
Now, you can slide the lead to where you want it on the shank then secure it with glue/thread/whatever you want.
Alternate method is to wrap a thread base onto the hook, tie in the tag end of the lead wire, then wrap it as above…got to put in the right place with this method, but again, zero waste.
I use lead wire, not ‘lead substitute’.
Buddy