Will occasionally, but always cash secured out of the money. If I want to get in a stock, but I'm not sure it's bottomed, I'll consider putting half a position on, then writing puts on the other half. Stock drops a bit more, I get the stock at strike, plus the premium, lowering my entry even more. Stock bounces, consider if you want to put the other half of your position on. If not, you can pocket the premium or roll into calls.