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Antonyms that are in the dictionary are marked in green. Antonyms that are not in the dictionary are marked in red.
As we all know, OTM options have a lower delta, which means that they "protect" principal less and less as stocks drop before option expiry.
Source: https://seekingalpha.com/article/4655021-qyld-stop-buying-this-etf?source=feed_all_articles
Last summer, I started writing deep OTM CSPs to enhance the income when Fidelity was paying us nothing on those funds; doing less now that the rate is close to 4%.