Based on something similar to what rkkarnani has posted, if one has to sell OTM opions, How to decide at what strike should we sell???
For ex. if you were holding SBIN of whatever rate. Then find out a strong resistance... which is 1800.
Sell 1800 CEs for Rs.10 now.
The expiry could close above 1800, in which case you will have to cough up the difference. Else, the Rs.10 premium is yours.
Most options expire worthless, so this approach has an additional edge for the writer. However, you much know in what market conditions to sell.
Right now, the market is threatening to break all resistances... so selling may not be advised.