I should be more careful not to encourage anyone to trade 100 share lots if that grossly violates their ability to diversify. When I got hurt long ago, I was probably 5 years too early to be taking on 3-4 covered call positions at once. Regarding the option premiums, you wouldn't even believe what was going on during the tech bubble. You could grab a 5-7% one month call premium on a $30-50 stock, set the strike price 3-5% out of the money. The market was nuts and it was too easy. We confused it with knowing what we were doing. When the market gets truly volatile it can be lucrative (but not THAT lucrative). But you have to be sooo careful not to be tempted to play with a stock you won't hold for 5+ years. I can control my enthusiasm because I was eventually taken behind the tool shed for some discipline. 
BTW, I appreciate the conversation. I'll share a few of my upcoming put trades real time. I think this week may be a bad time to write puts though. Maybe a few calls.
BTW, I appreciate the conversation. I'll share a few of my upcoming put trades real time. I think this week may be a bad time to write puts though. Maybe a few calls.