But if it went out in the money, you owned Cendant no matter where. I don't know, pick a stock. Month after month you sell the 30 puts and they always go out worthless. You believe that you are printing money. It simply cannot be justified.
Some people think calls are a much better sale.
In these situations you are, again, setting yourself up for unlimited risk with a reward that is certain and usually quite tiny. In 20 years of trading options I can tell you that I have pretty much seen everything that is going to happen and the only time I have ever seen people forced out of this business or had to be liquidated is because they sold puts. The only time. Nothing is worth risking your whole business or portfolio for, least of all selling a put for a buck or two. If you are doing this, please stop.