Hi all, I have a question relating to covered call writing. If I have a fund, say 10 mil, and I invest mostly in low P/E or P/NTA stocks(in other words, value stocks) and I sell covered call options on the stocks that I own, can I expect to consistently outperform the S&P? I am not talking about consistent profitability, just consistent outperformance over S&P because of 3 reasons: 1) I am capturing theta decay and can be expected to win most of the time because stocks trend roughly only 30% of the time. I believe there is an edge in selling. You are the "house". 2) Even if the stocks do trend upwards, I can continue to roll up and stocks tend to be mean-reverting in nature. Of course, I can still choose to just close off my options with a loss, if I want to if I think that the stock is going to trend strongly upwards. 3) I can even write some puts on stock I would like to accumulate and earn some premiums while I wait for the opportune time to buy my stocks. 4) I can even time my sale of call warrants when I predict that the stock has peaked or overstretched in the time frame that I trade. This is not absolutely necessary , though. This is such a basic and workable idea and I do not understand why almost 90% (not verified)of funds cannot outperform S&P in the long run. Can anybody explain or expand on my thoughts. Thanks a lot for any answers or insights.