I've been selling put options over the past two months and did a review today.

The underlying assets are BTC, Nvidia, Broadcom, META, and Tesla. Although none of them were exercised and I earned the option premiums, there are many areas for improvement.

1. Control the position size of sold options. The total sum of strike prices * 100 of sold options should not exceed 65% of the current account total market value. If the proportion of cash in the position is higher, the 65% ratio can be appropriately increased to 70% or even 80%. I sold too many before; although the cash flow was good, if a black swan event like a liquidation day occurs and the market drops sharply within a few days, I could very likely face a margin call. I based this on a maximum short-term market decline of 35% at that time. You can calculate the specific ratio yourself.

2. Don't sell options on your phone; the screen is too small. Today I backtested and found that some options sold had implied volatility too low, resulting in insufficient returns. Options with IV above 35% have higher premiums. When I used my phone before, I just estimated casually lying in bed. Now, using computer software to carefully review, I realize my choices were somewhat hasty.

3. Control the option selling dates before earnings reports to prevent a surprise or worse-than-expected earnings, which could cause a sharp drop in stock price and lead to being exercised.

4. Be patient when selling options. Wait for a stock to pull back or drop significantly before selling put options; the returns can be very good. Patience is key—opportunities are created by waiting.