u/BleakFlames

Does anyone sell puts to buy SPY/VOO? Instead of buying in with a limit or market order I was wondering if I could make a little extra by selling a put. It looks like I could get an extra ~$500 when buying in. Usually I just buy ETFs with market orders. This seems like it would be mostly free money however I get that I could miss out on gains if the price continues to rise and the option are not exercised. In that situation I would be able to continue to sell puts until they are exercised.

My goal is to buy and hold the position until retirement. I also understand this this requires a pretty large cash position to be able to do.

Are there any downsides I'm not thinking of when doing this?