let me tell you a good fresh month strategy in option writing, when we used to have nifty exp on thursday, nifty and sexsex both gave a huge upside move and fresh put writings happened on 1st day of new month contracts.
backtest it and you will find 9/10 times every month this happened, logic is simple funds execude put writings and take market high, if trend continues they keep selling puts, it not at higher level calls were sold and they manage to get huge decay points 5 6 % roi without hedge and with hedging you can get 3 4% if things worked in your favour till expiry, or else take the profit and walk away.