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Thank you for everyone's advice. I am pretty good with stocks. I have been a long term buy and hold investor of them for 27 years. I actually once sold a CSP on a high beta stock, NET, and took a big loss. I will read Robert's article in the journal of financial analysts.

So would you advise that I should stick to CC's and maybe cash secured puts, since I will get into trouble if I try more complicated things?

Intrinsic value when it comes to stocks, is the opposite of cut and dry. Just by making small changes to the discount rate, or expected future cash flows can give you very different numbers. Ideally, you want its intrinsic value to be so far below its price, that even if you are wrong by...

Here are a few. Analog Devices, Bank of America, Berkshire Hathaway of course, and General Dynamics. Stocks can lose their moats by the way. You need to keep an eye on that.

As I stated, I am an advanced beginner. I have sold probably 100 CC's and cash secured puts. A lot of people who are not professional investors succeed selling cash secured puts and CC's. Options are not simple, but they are no where near as complex as say, Electromagnetic Field Theory...

You pick either ETFs, or stocks with a wide moat, that are selling at a discount to intrinsic value. I have been investing in stocks for 27 years. I have never seen a wide moat stock open up 20% down.

It depends how good you are. You can certainly lose money.

If the company is still good, you can keep selling calls on it, but if the business changes, you have to get out as soon as you can.

A lot of experience selling cash secured puts, and covered calls, but nothing else. If the fundamentals of the stock change, you close the call and sell the stock.

My thoughts are selling weekly CC's on good stocks, or ETFs, and getting the appreciation of the stock, plus maybe 1.5% a year in premium is the best strategy. You will need to understand tax consequences, exit strategies, etc. of course to make it work. And of course you will need to be able...

I agree that you are not going to achieve generational wealth by reading his book. However, I have read a number of books on options, and this one by a country mile teaches you the most with the least amount of work required.

I know the people here are very advanced, so this will not apply to many of you, but I wanted to recommend a book I bought about stock options. It is called Options Trading Simplified For Beginners: Master The Essential Options Skills For Generational Wealth Even With A Small Account. The...

Anything Alan Ellman likes, I like. I have found him so helpful.

Is that the same as Alan Ellman's stock repair strategy?

I would be happy with the return of the stock, plus 1.5% a year. I don't expect to get rich selling covered calls and cash secured puts.

But I do agree that options are not simple, and one should do a lot of paper trading, and only invest small amounts of money, before assuming they know what they are doing. I think when you get into multileg options, you really need a lot of knowledge. That's why I never attempted a simple...

I think people can be successful selling cash secured puts, and covered calls without getting into complicated multileg options with different expiration dates. It's like engineering, you can be a successful engineer, without being an expert in differential equations. I think people can be...

If you read books by Lawrence McMillan and Sheldon Natenberg, your head will spin. Tastytrade is great.

And of course, thank you for your feedback all of you.

It's not a mechanical strategy, so I don't think backtesting would apply. There is judgement involved. Which stock to pick, which exit strategy to use, what technical indicators to use, etc. But as you said, I willtry it with paper money on thinkorswim and see for myself.