As the caveat says "your results may be different" - so far, and I emphasize that I have only been doing it for less then a year, I have averaged about 22% on total funds of 124k. Not all funds are committed at one time, which works out to a pretty lucky average so far. The method I use is the Kim Snider plan, and although she emphasizes low risk conservative covered calls and minimal naked puts, her expectation is pegged at 13%. My itchy fingers are pushing the envelope, and indeed, most of the blue chips you list have so little volatility, that you can't make much money on them. She has some parameters that look at higher volatility, yet "safe" wihin the current market time frame of 1 - 12 months.
At this point, it seems too good to be true, so I'm proceeding cautiously before putting a large chunk of cash into it. My friends that got me into it, have had similar experiences, although they are a bit unhappy right now, as they are "only" getting about 13%.
Not for the majority, but if you accept the risk, there appear to be some rewards as well.
