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One of the most misleading statements about options that has been perpetuated forever is " 90+% of all options (or whatever high number is used) expire worthless" This is like saying "100% of all humans die". What the statement fails to point out is what happened during the lifetime of the option. An option may have been "born", or "come on the board" at $3.00. Then during it's lifetime, it might have "travelled" to $12.00, then $5.00, then .50, $27.00, $.10, $5.50...and then expire worthless. You get the point. All humans die but, what is important is what happened during their lifetime!

I agree, the losses will be much larger on selling premium. My biggest problem was the mental component. For example, when selling an iron condor, you're almost always in the hole right away, since the theta gains are slow, but any movement in the underlying creates gamma losses. I would constantly cut my losses, but wasn't making it up in gains. So for me, selling premium was just too difficult because of those fears.