This is honestly my favorite strategy. I short otm puts on decent companies, KO, WMT, COH, TIF, PEP, PG. Its absolutely true that 90% of the time you win. The 10% can hurt bad. I know people say what about when you lose? You own KO, WMT, COH, TIF, PEP, PG they all pay above market dividends (especially at low strike price you sold puts at). Unless the person criticizing you knows for sure the above companies are going to zero their argument is poppycock since you can just hold them and/or turn around and sell calls against and collect dividends while you wait. I shorted otm put leaps 4 months ago on most of the above during downdrafts and closed 90% of them last month. Never seen the market decimate premium the way it did last two months, made $46k fast and now going flat as pancake on positions. by far my favorite strategy, wait for any decent companies to miss earnings and short otm puts 1-24 months out, do them in small tranches 30% first day, 10%, etc...i've seen the stocks even decline day after day after initial drop but the vol spike on day one drop juices the premium so high. if its just another newbie strategy its the most profitable one i've used.