I think it's a great idea. Personally in the stock market, I like buying solid companies then selling covered calls. As much as people don't like Apple or the other big tech companies, people can't get enough of them. I prefer to take the premium and I know I am limiting my upside but these stocks are for long-term holds.
The amount you earn isn't enough to break the bank but even if it is taken away, your in the green. If the stock drops, you will be hurt regardless. From time to time, I also sell some covered puts with prices that I don't mind selling the stock at anyways.
For my short-term stuff, trading when the chart is good is fine and I try not to hold anything I wouldn't want long-term in my portfolio for very long. For the ones I really don't want to hold, buying an option does wonders although you lose money on the decays. At least I will not end up holding stocks I am not willing to keep long term.
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I am not as well versed on stocks and things like puts and calls, it's just not my game, and I am scared that I fuck it up, but I see a lot of people who know what they are doing making a good bit of money, and I am happy for them.
I think that's a good filter to have, if you're not going to keep something long term, why even hold it at all