I only have experience with covered calls. It figures that there's not get-rick-quick schemes. I remember walking by the Toronto Stock Exchange when the Bre-X gold scandal hit in 1996, I think. Just a continuous string of sells going across the board in freefall. (Bre-X had incredible "luck" finding gold in Indonesia or something until it was discovered that the results were spiked. A geologist was inserting gold to make it appear as if they struck it big.) I didn't own shares but it was fascinating to see a darling of the industry implode in a matter of minutes. Fortunes were lost that day. Books were written. Massive fraud that was unprecedented.