There is a lot of premium available on SPY options that will expire at the end of next week due to the recent market gyrations. I created a covered call, buying SPY at 117.26, selling-to-open May 117 calls at 1.69 for a net investment of 115.57. The Theta (time decay) on these options is $8 per day.
Did a covered call on SPY using a combo order. Bought SPY at 119.83, sold-to-open April 120 calls at $0.70 for a net investment of 119.13.