All right, people, in response to a few private messages (I have replied, mostly), here is a public announcement. There is no miracle strategy out there that you can trade without understanding the pricing or the risks. You can't just "sell premium for a living" or do "iron fuck-knows-what" and believe that it will make you rich. Sooner or later you will get unlucky and the great evil market will catch up with you. There are two ways to make money with options: (a) You understand the underlying stock, index or futures contract well enough to predict where and/or well it will move. If you know when and why corn is used to feed the calf instead of soy, you can make tons of money trading conditional spreads on feeds. If you know what if some bio-tech company will pass or fail the FDA test, you can make a ton simply trading puts or calls. (b) Understand the pricing of risk premiums and be able to identify which risk premium is rich or cheap. This risk premium could be implied volatility, skewness of distribution, or even dynamics of implied volatility. But you have to understand the pricing, the dynamics and be aware of the risks (you know, for any risk premium, it's either a slow bleed or a bullet to the head). So... experienced people, please treat the newbies with some degree of respect for their money. Newbies, caveat emptor, be careful who you trust. It not only takes years to develop experience but also takes a lot of critical thinking to get through the theory and the practice. Be prepared for it. But there are coins in the fountain, you just have to be ready to dive for them! Thank you and have a good night!