your return on investment is much higher selling either put or call weeklies every week as opposed to selling options every month or further out.

I agree completely that you need to keep a close eye on the charts and have a good system in place, because one big loss can wipe out months of gains. With VIX so low, it's hard to make money selling premium on the indexes, but you also have far less risk with the indexes of a big gap down or up like you do with individual stocks.

Paul