I like to think of selling options versus buying them like a casino. When you go to a casino you spend money to gamble. That's similar to buying call options. You pay for them and you cross your fingers.
Now with selling options you collect premium up front! You have a defined reward and a defined risk. It doesn't get better than that.
Here is my top favorite strategies for collecting income and selling options.
1. Covered Calls - This involves selling a call against 100 shares of stock you already own. This is a moderately bullish strategy that generates income.
2. Selling Puts - This is a great strategy for entering into a stock. When you sell a put you collect income and are obligated to buy a stock at the strike price you sold. The amazing part is if you don't mind getting put a stock, then selling puts is the best way to enter a stock and get paid for it!