I am investigating implementing following strategy. :- IB allows only one strategy in options in a cash a/c. That is covered calls, I would like to open a cash a/c with IB for $200k. I want to write covered calls only on DIA, SPY, QQQ, and IWM. Average cost is about $100 per share. I can have 20 positions to write covered calls. I will write covered calls every week. Initially I might receive $80-90 in premium per position. But prices may fall and I am anticipating receiving $50 per position. That is $1000 per week. That is $50000 per year. I am ignoring compounding effect and receipt of dividends . The question is - Is this strategy viable. What could possibly go wrong? Please give comments, suggestions and any feedback. Thanks And much appreciated.