Michael C. Thomsett 
Option Trading Low-Risk Short Spread, The 

Contrary to popular opinion, there are low-risk short option strategies–and here’s how to make them work for you. Is there such a thing as a low-risk short option strategy? Many traders and investors do not think so, but in fact there is one way to put together a short spread that will not break the bank. A combined covered call and uncovered put accomplish this, assuming that a few basic precautions are followed. First among these is….