Originally Posted by mispoken

I thoroughly disagree with you here, saying that spreads are a waste of time and money. Assuming you understand them and know how to manage them they’re far more capital efficient than your typical covered call. If I can buy a cheap wing for say, .25 and preserve $2-$3k in buying power, this allows me to do a lot more with my buying power versus devoting all to a few trades. The key is trading small and trading often to tip the probabilities in your favor.

however, I prefer naked puts to maximize my premium and for management purposes. It’s much easier to keep rolling a naked put and collecting premium as you go versus a spread. The more spreads, the more difficult to manage.