Does anybody have experience/success selling put spreads by selling the long protective call when the market is still rising (or topping) and the call is cheap and then selling the expensive put after the market drops? This would seem to improve the horrible R:R of the standard short put spread, or? Which time frame and strikes would you recommend to the long put?
Well it makes sense. I personally prefer selling a call go short with stocks and then buy a call or just close the stock leg when we are lower but your strat works too.
"Does anybody have experience/success selling put spreads" Yes. And Call spreads too. Why not just add a short call to the mix and make yourself an Iron Condor?