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In fact I started to write about how I thought selling cash-covered puts might be safer/better than selling covered calls.
If it's not worth doing, it's not worth doing well.

And CC's or selling CS puts are just not worth doing. A program of picking up pennies in front of a steamroller always looks like a success, right up until the point that the steamroller arrives. You collect a stream of piddling premiums and then get your face bitten off.

But people will never learn. Everybody wants to believe that there's a low-risk free lunch just sitting there for the taking that nobody else has discovered -- despite the myriad books and articles about the technique.

FWIW, I had a long string of success in selling cash-secured S&P500 index puts. Until the very last time, when I was getting ready to open a position, and asked myself why I was risking $17,000 to make $195 (minus about $10 of commissions).
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