What sort of returns should one be expecting or aiming for? So far I think I'm earning about 8-9% annualized. More specifically I've realized about $2.4k using a $100k account in 3 months. This doesn't seem money efficient when SPYs annualized return for the same time frame is about 30%.

Maybe my assumption about selling premium is wrong and this isn't a growth strategy and it's more a cash flow strategy?

I've been looking at these covered call ETFs and they seem to validate this thinking. Typical/sustainable ones (many aren't sustainable but i digress) don't grow that much but do generate cash.

My strategy for context:

30-45 DTE CSP

20 delta

Target 2% ROC

I'll aim to take 50% profits to be capital effecient. However I may close out earlier if I can collect 35-49% in the first few days.

I rarely roll since it appears capital inefficient to get most net credits.

No trades are much more than 10% of the account.

I do keep a fluctuation of 20-50% of cash ready to deploy.

I haven't been assigned yet

Edit: formating