There are many possible options-related investment strategies. But the covered calls strategy has been the most popular since 1973. Reasons include simplicity, consistency, and profitability. There are, of course, other strategies to choose from. But when you start getting into 3 or 4 legged trades it is easy to lose track of what has to happen (or not happen) with the underlying stock for you to make money. Iron condors and butterfly spreads have their place, but require more attention during market hours than simple covered calls.
The first option strategy most people learn is covered calls. That’s because it’s so simple. Just buy 100 shares of stock (or use stock you already own) and write 1 call option against it. You know in advance how much you will make if the stock is flat through the expiration date, or if the stock rises above the strike price by the expiration date. There is still downside risk, but it is less than the nearest competing strategy: Buy and hold.