Good overview. Personally, I sell options to generate cash flow and buy/sell stocks at the prices I want. When I identify a stock in a company selling at an attractive price that I want to invest in, I sell puts. If the price drops, I buy the stock. If the price doesn’t drop, I pocket the premium and try again. I sell calls (covered, of course) to sell when a stock I own is near full value. Same concept, if the price doesn’t increase, I keep the premium. If the price increases, then I sell my stock and don’t have to worry about owning an overpriced security.