CSP — short put

Sell an out-of-the-money put on a stock you'd genuinely own. Target 20-30 delta, 30-45 DTE. Roll out & down at 21 DTE if untested. Goal: collect premium without assignment.

Assignment

If put expires ITM, you own 100 shares at the strike. Cost basis = strike − premium collected. Don't panic — you wanted to own this stock anyway.

CC — covered call

Sell calls against the 100 shares. Target 20-30 delta, 30-45 DTE. Cap upside in exchange for premium. If called away, the cycle completes and you start over from cash.