Originally Posted by mispoken

yep; selling premium is the way to go. But adding a long put or call to cover the short contract to limit your downside and preserve buying power is easy to do. Managing buying power is the other half of the options battle.

One of my favorite ways to trade is around earnings due to increase volatility. Writing an iron condor or iron butterfly and targeting a 20-30% profit the day after earnings are released is pretty easy money. But, its complexity over say, a naked put, makes managing it if the stock blows out one of the short contracts a bit of a PITA.

I declare a complete deviation from the “side hustle” topic.