There was little practical difference between 11,22,33 ATR and 9,20,50 ATR so I put 9,20,50 ATR in the screener and on the ATR on the chart. The naked put screener gave me some good deals but often the bid-ask spread was so wide I had to hold the position until expiration or almost, so I decided to screen for high volume and narrow bid-ask spreads. ATR 9 being lowest is first screener, ATR 20 being lowest is second screener and ATR 50 being lowest is third screener.
The ATR system wasn't always foolproof, so....screen for high volume and set the strike price on the Moving Average Envelope that makes the most sense to you to make money and cover your ass.
I brought the ATR system back. I figure it will keep me out of more trouble than it will get me into.
Set the strike price on the 1,11 Moving Average Envelope or lower when the 5,34,34 MACD is bullish. Set the strike price on the 16.5,16.5 Moving Average Envelope or lower when the 5,34,34 MACD is bearish. I choose from positive weighted alpha stocks and SPY and QQQ at any weighted alpha.
Selecting a strike price is more of an art than a science, and I removed the 16.5,16.5 Moving Average Envelope.
An attempt to make a science of reading the 5,34,34 MACD: MACD running in or against green: set strike price on green line. MACD running in or against red: set strike price on red line. MACD running in white: set strike price on silver line.
I got frustrated with MACD and went back to ATRs. Set your strike price on the Moving Average Envelope of the color of the highest Average True Range.