Yeah, I looked at some of the trades and it was 10c - 20c premium per week, but close to zero risk, maybe if I sold out of everything into cash then it would work
Of course the issue with that approach is that you miss out on any big upside move in the stock, but conversely you don't really care about the downside moves either, assuming your spreads are wide enough
I still think the idea scenario is to be in 50% shares/50% cash and sell weekly $1 puts and calls, I didn't back-test, but my gut feeling is that 90% of the time they would work out, OK: expire or far enough from the strike to roll comfortably
But it's arriving at that bit pot of shares and cash that's not so easy... even at ATH back in 2021, I didn't have much cash, it was all in shares and LEAPS, which devalued very fast when the stock crashed
Now my "poor man's" solution is to play what I would term "Calendar Condors" (I made that up), so the long legs are 3 - 6 months out, the short legs weekly, already explained this, but I'd be looking for a long position with 50c per week value to sell $1 against, look to double the money and bonus points if the SP moves decisively in one direction to close out the long for 2x - 3x initial cost