Wheel Strategy for Stable ETFs & Gold for Income/Downside Protection

Discussion highlights the 'wheel' options strategy (cash-secured puts + covered calls) as a potentially 'almost bullet proof' method for generating income, especially when applied to fundamentally strong, less volatile index ETFs like $SPY, $QQQ, $IWM, $DIA, and $VTI. It suggests using GLD or t-bills to average down during market bottoms, improving strike prices and income. This strategy is presented as safer compared to volatile assets like crypto, provided one can manage downside risk.