Hey!

I've been hatching a plan to start selling monthly (30-45dte) put credit spreads on the S&P. I am going to allocate roughly $1k-$2.5k to these spreads, and will be doing them on XSP due to how they are european-styled options and not american styled, removing the risk of early excercise.

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I'd like to ask the subreddit about the best way to go ahead and do this. I've thought of three different strategies, which are: Selling an ATM put, selling a 0.3 delta put, and selling a 1 standard deviation put.

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In my opinion, the 1 St. Dev doesn't provide enough premium, so I'll be having to chose between the 0.3 delta strategy and the ATM put strategy.

The 0.3 definitely provides more guarantee of success, being OTM. Meanwhile the ATM put strategy banks that the S&P is going to be higher in 30-45 days than it is now, which - on average, it is.

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I'd love to hear what you have to think, which would/do you prefer doing?

Thanks!