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A covered call is buying (or owning) a stock and then selling a call against the shares already owned. So you own the stock AND you have sold the right to another party to buy that stock from you. If the option is exercised, you end up with cash and no stock.

Selling a put is giving someone the right to sell stock to you. If the option is exercised, you have to fork over cash and end up with stock.

How on earth are those two equivalent to each other???

Either one can be bullish or bearish, depending on whether the strike price is in the money or out.

A put strategy is to sell out of the money related to shares you would be glad to own, at a lower price. You can often do similar with a call spread.

A call strategy could be to sell out of the money because you want to liquidate long term but like the call revenue and don't mind waiting, and don't care about the downside risk during the wait.

A 15%-20% annual yield from options trading is outside my experience and understanding.
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