Hi
@Thestrugglez , so basic options 101:
Selling covered calls or any puts, buying calls = bullish strategy
Buying puts, selling naked calls = bearish strategy
The definition of bull or bear is based on whether your strategy makes money if the stock goes up or down. So selling covered calls loses money when the stock declines over the premium received. If the stock goes to infinity, yes you lose out on all that upside but technically the covered call trade made money from the time you placed the trade so it is a bullish strategy.
For options premium prices, see this link:
Options calculator
Put in any stock symbol and set the strike price and actual stock price the same and you can see calls always have more premium value than puts. As I said before, it's due to interest you "may" earn on the cash securing a put (or alternatively, the interest you forego when you buy a stock and then sell a covered call.)
Also, note that option time values are the highest for strike prices at the money and relatively higher at shorter expiration dates vs longer expiration dates, i.e. 1 week vs. 2 week option, the value of the 2 week option is never going to be 2x the 1 week and is in fact significantly less. So writing at the money, earliest to expire options is the best return on paper.
For folks who don't understand options, I would say this. It can definitely be a high risk speculative trade and you can lose 100% of your investment easily. But it has very legitimate uses and is a great tool to moderate risk/volatility. For example, if you own TSLA and buy a put then you are hedging, i.e. if TSLA tanks then the put makes money to offset your losses in the stock. Similarly, covered calls hedge downside but only to the limit of the premium you receive. Options all expire so this introduces a very interesting time element to investing. If you own an option, time is against you, if you sell options time is with you. i.e. Cash secured puts, you are shorting the put so as time gets closer and closer to expiration the value goes down (and eventually zero if there is no intrinsic value).