Correct.
However if you run low on mana, and can't use lightning strike you don't get a HCI bonus.
One other thing to note also is that LS gives you 50 HCI, which is actually 5 higher than the cap. This is something to keep in mind if you want to build a suit to compensate for Hit Lower Attack. Other than that GFY is on the money. Don't depend on LS for all of your HCI. There will be plenty of times that you're out of mana, especially as an archer. I have nearly 100 mana on mine and run out regularly, even though I've got good mana regen and mana leech on every bow I use.
Something to keep in mind while working on your archer is that a good archer knows how to conserve mana to use it for it's greatest effect. Anyone can do a mana dump, but a good player can get more from his mana than the person that dumps it all at once and hopes to get more. To me that's the key to being a really good ABC archer.
