My thoughts are selling weekly CC's on good stocks, or ETFs, and getting the appreciation of the stock, plus maybe 1.5% a year in premium is the best strategy. You will need to understand tax consequences, exit strategies, etc. of course to make it work. And of course you will need to be able to pick good stocks, or just use SPY.
The "best options strategies for advanced beginners" would depend on factors like what your expectation is for price or vol changes in the near future. And, you need a process in place that is right more often than wrong. Randomly picking any option strategy without that will have unpredictable results.
A lot of experience selling cash secured puts, and covered calls, but nothing else. If the fundamentals of the stock change, you close the call and sell the stock.
If the company is still good, you can keep selling calls on it, but if the business changes, you have to get out as soon as you can.
You pick either ETFs, or stocks with a wide moat, that are selling at a discount to intrinsic value. I have been investing in stocks for 27 years. I have never seen a wide moat stock open up 20% down.
I was trying to think of an example...With a wide moat. Boeing came to mind...BA In 2018 and 2019, two Boeing 737 MAX narrow-body passenger airplanes crashed, leaving 346 people dead and no survivors. In response, aviation regulators and airlines around the world grounded all 737 MAX airliners.[33] A total of 387 aircraft were grounded.[34] The stock dropped by two-thirds, but it was over about 6 months. I ended up buying some Boeing after that...I felt they would find the problem (they did). I, like you, have done covered calls for years. Only about 6% of the option market is made up of these trades. They are profitable, if you know what your doing. It also helps to know your tax situation and which tax free/deferred accounts work best for those trades...
When you get a minute... can you give us an example of a "wide moat stock" outside of the mag 7 we hear about daily. And mean this with all positivity.... give me one I have never heard of. I like new ideas.
Define those metrics please. Intrinsic value is cut and dry with derivatives, but please elaborate how this applies to an individual stock. We are talking dozens and dozens of variables here, not the least of which is the company, the sector, the balance sheet, .... and a 100 other things. You can't just throw out an all-encompassing statement of that nature without some seriously intellectual metrics applied to a company's valuation and get away with it. Show us what you know.