Hi XFatOx,The bolded part from the above quote is really the crux of the matter: You posit a situation where the stock price is "too steep" and suggest that you might sell puts, given an appropriate premium. That can't happen! The fact that you consider the stock price to be too steep virtually guarantees that you will receive insufficient premium, regardless of the strike price you choose to sell.Sure it can!The premium has nothing to do with perceived value of the company. Volatility, closeness to the strike price, time premium based on time left to expiration are what the premium is based on. In fact, I would go so far to say that premiums increase as companies reach outlandish value. This is probably due to increased volatility and the range in which a stock trades as it moves up irrationally.Bull markets produce the best premiums and the highest valuations.I read each word in TMFjeff article and I thought he made his points well. I see nothing in error in his entire post. And it was filled with warnings to investors that it is not a strategy for all. But the way he describes his strategy it is as safe a strategy as you can employ using options. I do not believe it to be irresponsible.Maybe I am missing something in your post or explanation. tom
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