recently a poster commented that is is more efficient to sell puts than it is to write covered calls. i'm interested in some input on this idea given the following situation: I own an small apartment building may sell it and use real estate securities to earn income (hopefully more income). REIT indexes (ICF, IYR) are prefferable since they are indexes and therefore diversified. IV is usually pretty decent and div yld is over 4%. Is it better to write 2% otm covered calls or sell 2% otm puts? In order to get the dividend the underlying must be owned. To maximize premium selling monthly options is probably best but I assume that the months in which the div is paid this will be taken into account in option pricing. Any thoughts on selling puts vs. writing covered calls and capturing divs?