Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Comparison between buying a stock and selling a naked put
Option prices are computed by determining the cost of obtaining the option returns using a strategy that trades the underlying asset continuously.  It sounds like what you are describing is rapidly trading the option in order to obtain returns similar to those of the stock.  The equality goes both ways.   If the option is appropriately priced, then a strategy that replicates stock returns using the option will cost the same as buying the stock. Because you can't trade continuously, you won't actually be able to replicate the stock return, and it may seem like you are making arbitrage profit (puts may seem abnormally expensive), but you do so by bearing tail risk (i.e., selling puts loses more money than owning the associated stock if an unusually bad event occurs).