An overhand knot tied on the Stranding Part before the eye ( because it is loaded by the 100% of the total load from the one end, and 50% of the total load from the other ) can clinch around itself very tightly, and can immobilize very efficiently a second line that penetrates it - even if it penetrates it
once. Two such knots, tied on the ends of two lines, can be utilized as a simple adjustable binder ( see the attached picture ), or even as
a bend ( the
Bend X , M. B3 ), as was shown by D. Mandeville. In your knot, the returning eye leg goes through this overhand knot
twice - moreover, the second time it passes
under itself, so it forms a
Blackwall hitch which is already a very secure hitch, even if it is not squeezed inside a tightly woven overhand knot. Therefore, your knot is very secure, no question about that. However, I am not sure that it will not jam under heavy loading - the property of non-jamming, for "knots" other than simple loops, should only be claimed after it has been tested.
Almost the same knot can also hold well, even if the knot tied on the Standing Part is
shaped like an overhand knot, it is geometrically similar to an overhand knot, but it is topologically equivalent to the unknot. See the four variations of the asymmetric
HH hitch which can serve as a base for such a loop. (1)
Two variations of a similar knot was shown at (2) - used as a mid-air binder, not as a loop.
Another attempt to incorporate a
Blackwall hitch into the ( crossing knot-based ) nub of a loop, can be seen at (3).
1.
http://igkt.net/sm/index.php?topic=4116.msg26738#msg26738 http://igkt.net/sm/index.php?topic=4116.msg26739#msg267392.
http://igkt.net/sm/index.php?topic=3656.msg21113#msg211133.
http://igkt.net/sm/index.php?topic=4736