I thought that a good strategy might be to write conservative out of money naked calls (or puts i suppose) for such stocks as BHP and RIO, because their premiums are higher than lower priced stocks. The risk is also less than if I tried to get that premium from a lower priced stock.
With only several thousand on credit to work with, this is enough to pay the margin quoted on the ASX website.
So is there a broker in Australia that would let me do this? Or is this strategy bogus?