Although I have been reading the options postings for a long while I have never made a posting myself,so here goes. At the risk of being called a sycophant may I just say I am absolutely stunned at the knowledge you guys have about options.Although I vaguely understand some of the strategies i.e.The Perfect Option Position.I would never have the guts to put this position on,I dont think I would know what I was doing! Anyway,to the point.As I am getting on in years I tend to be looking for safer positions.I know many people recommend cc's but there is a big downside risk. The strategy I am thinking of is this,and I want you guys to pull it down and tell me where I am going wrong,buy 2006 ATM Leap puts on such as QQQ SMH HHH DIA sell ATM puts on the front months,if not assigned the premium will lower the cost of the Leap,if assigned I will get the stock and will then then sell CC's until the options are exercised and then repeat the process selling front month Puts.As I understand it while I possess the Leap Put I can exercise it any time if the stock really tanks thus protecting the downside.As I said I am not an options expert so please excuse me if I've made a fool of myself!!