I am thinking about writing credit spreads on oex options and would like comments on it. Basically i am thinking of selling either calls and puts closer to money and buying calls or puts 5 points away to collect .50 or .75 credit with about 2-3 days left on expiration. Lets say oex is at 525 with 2 days to expiration. If i am bullish i would sell 520 put and buy 515 put to collect a small credit. If oex stays above the 520 mark i will collect premium. Worst case scenario is i will lose 5 points. Any experiences or comments are appreciated.