The covered strangle combines two option strategies: a Covered Call and a Cash-Secured Put. Using IWM as an example, you already own or buy 100 shares of the ETF, sell one call short and sell one put ...

Covered call ETFs have exploded in popularity. The strategy of writing covered calls is not optimal for income generation. Writing puts or using 0DTE call strategies should produce better results.

IGLD ETF review: synthetic covered calls on GLD deliver 11.36% monthly income but cap upside and lag GLD; ROC matters for taxes—see if it fits you.