Selling stock options is the best options for idle cash. Buy the 100 shares, and sell the weekly contracts. AAPL TSLA NVDA Best stock to sell options on. Take a bit of analysis, but worth the time. Collect a premium on a weekly basis.
In weekly not much theta left in options premium so wondering why you suggest weekly ? Also I think you are suggesting one should look for stocks which will not fall down drastically (to protect downside) for covered call strategy correct? Stock which are relatively strong that even if market crash they will come back up soon because their business model/product is strong?
I think it would be presumptuous to think that you (or user "curiosity") are the only ones who "discovered" this volatility term structure, while the market makers and hedge funds who you trade against and who spent millions if not billions on their pricing models and their infrastructure, missed it? Don't you think it would be already embedded in options pricing, if a set of stocks historically "didn't fall drastically"? Also, I often hear from layman option traders that you should trade high vol stock. Now I guess this advice is kind of the opposite. So which one is it, lol? Frankly, I personally wouldn't listen to any of that. Lots of opinions, little to no facts. I'm just saying.
If you're in the stocks long term, you dont really worry about the stock dropping. That's my point of view on my positions. If it reaches ATM, you can always manage and close your position as theta is in your favor. Basically you dont want the stock to move against you with in the first couple days from my expierience. Reason I use weeklies, is to collect the premium on a weekly basis. Of course, my analysis has to align. If you are worried about stocks droppping and your in n out of positions, then this is probably not the best strategy.
So for any future readers reading this ...as long as your cash balance is positive - there is no margin interest - option requirement for which you get credit - that requirement/exposure is satisfied with any marginable securities you have in your account. As long as you have marginable securities value (after reducing maintenance margin) - more than options requirement- no interest or margin call.