A post fixed at the ends would be a secure way to run the wire, but if the lathe requires less than 20 amps I'd be tempted to simply mount a 220v 20 amp spade terminal box on the ceiling and let the cord hang. If it gets bumped or snagged it simply unplugs, no harm done.
The lathe will be on a 20 amp 220v single phase connection. Hanging the cable seems to be the quickets and easiest way. None of this is permanent. Im going to be building a good size shop in my back yard with the next year. Where everything will be built how i want it.
When I built my shop I installed 110 outlets in the ceiling in addition to along the walls.
And I installed 220V outlets in the ceiling with boxes to allow placing conduit at a later date.
One of the lathes is under a 220V box, I dropped 3/4 conduit from a junction box down to a disconnect box on the back of the lathe stand and pulled wire.
I did basically the same thing in my shop. All of my plugs are L14-30 and wired for 120/240 volts, so that way I can run both 120 volt accessories as well as 240 volt equipment without having to hook up power xformer at each machine.
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