I'm just getting started (again) with options. I bought some OEX calls in 1987 and have a handful of single-sided trades since then. Now I am planning to try to generate some monthly income by writing spreads, most likely put credit spreads. Is there anything wrong with letting the short side go to expiration and taking ownership of the stock if it's ITM? If it happens then I would immediately write ITM covered calls, hoping to at least break even. If not then I might write OTM covered calls for a few months, but my long term goal would be to have the stock called away. If the stock really tanks while the spread is open I can always sell the long leg at expiration to pick up a few more bucks. Just to get my feet wet I did a May 32.50/30 spread for $0.80 on EBAY last Thursday morning, when EBAY was trading just around 32.50. Of course it started tanking immediately along with the rest of the markets. So if I get assigned my cost for the stock will be $31.70. Right now the June 30 calls are selling for about $2.35. If they are about $2.00 in a week then I would make about 30 cents overall. Or maybe I should sell the 32.50 calls if they are like a dollar or so. Any comments are welcome. BTW, I just joined here.