with the volitility of the market iw ould not be selling any naked calls. try shorting some call spreads. 105/110 or the 110/115. premiums are alright but you really limit your risk that way. dont want the possibility of getting killed in 5 days do you?

In general, selling low-priced options because they have a high probability of expiring worthless is a losing proposition.

If is true that the vast majority of the time the options will expire worthless and you will realize a small profit. But remember, it only takes one violent move to create massive losses, and one massive loss can wipe out hundreds or possibly thousands of small gains.

There was an example within the last year I saw where an option went from $0.05 per share to $25.00 per share in less than 24 hours. While that is very uncommon, remember it only takes once.

While I have shorted $0.05 options before, I can probably count the number of times I have done so on the fingers of one-hand. Of those times, I think I can count the number of times the option was naked on the thumb of one hand.

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I doubt if you would find anyone who has traded options actively for five or more years who short unlikely options naked for small premiums. It is too risky.