Can this be done? Has anyone tried it? Any comments?

Writing naked options can seem very rewarding until the day that happens. And it will. Then you'll regret the day you ever started, and wonder what happened to all your profits on those little premiums you've been collecting, that have just vanished as one of your underlying stocks crashes through the floor and leaves you looking at a huge loss.

If you are successful in trading the underlying...and you'd better be to even think about writing options...then just stick with trading the underlying. No need to take on a high risk/low reward strategy that can really hurt you if you're in the wrong place at the wrong time.