Met a friend at an Option seminar organised by TDAmeritade, he was sharing of his naked put and covered-call strategy (P-C-P strategy).
Personally, I think the US market is overvalue and there is a need to protect one’s capital by using defined risk option strategies.
Realize that not many like to do the adjustment as it is tricky and the probability of successful adjustment can be 50-50. So use defined-risk option strategies is good enough in my opinion.
For friends still doing selling naked put option, do consider using defined risk or/and adjustment to protect your capital.