Like daytrading, most folks should never dabble in advanced options. If it has more than two legs and a fancy name, proceed with extreme caution. But, there's no reason why every investor on Earth with 100 shares or more of an optionable stock should not be writing covered calls. When you use covered calls, you assume a modicum of additional risk if the stock you own decreases in value. It depends on the extent and timing of the decline. But it's not enough risk to keep even the most skittish investor away from the best example of "free" money the stock market offers, aside from dividends.