Selling put options can allow the generation of regular income, but deciding the strike price and expiry date is always challenging.By theory, a lower strike price will fetch a higher premium for sellers, but it comes with higher risk of assignment, possibly result in an overall loss instead.Also, by setting a further expiry date can fetch a higher premium for sellers too, but it comes with both risk and opportunity, for the stock price to fall or increase. Stock price fall can result in an overall loss, while stock price gain will increase the likelihood for the option to expire without value.To decide on the strike price, we need to determine what we want.1. If you want small profit with minimal risk, try to set a very far ‘out-of-money’ strike price, such that we can likely gain th