Wheel Option Strategy for beginners

Would you like to share some multi-leg options strategies you've been using?
I'm still learning how to invest in options and don't use any multi-leg options strategy. I summarised my experience below:
1. Sell covered puts/calls 🎡
I sell puts to earn premium and to acquire stocks that I liked at discount price when share price is falling (in bear market). Once I acquired the share (100 units) will sell covered call when the share price is increasing (in a bull market). If my stock is called away (call options expired and ITM), I'll earn profit in my stock and premium. This is known as the Wheel Option Strategy which is easy to understand for beginners.
2. Need a lot of cash
You need a lot of cash if the stock you acquired is expensive (1 unit option=100 shares). For example if you try to sell puts on Tesla (price now about USD 210), once assigned (ITM) you need USD 21k to buy 100 shares.
3. Selling naked puts/calls can be extremely high risk
Hence investing in options is very risky if you sell naked puts/option - get margin call if you time the market in the wrong direction. There are so call strategy to "roll over" your options but if you just blindly copy other (don't know what you're doing), fear will overwhelmed when your option is ITM (in the money). You'll get burnt when panic buying back to close your options position before expiry.
4. Buy options to lower your risk
There are strategies to lower your risk when investing in options. Some may buy put options to protect your stock when the share price is falling.
5. Options Paper trading
You may want to use paper trade in options to try the strategy first to see if it works. But bear in mind, past performance may not guarantee future result as market volatility is always evolving. Sometime you may get caught in a Black Swan event.
6. Technical analysis 📉📊📈
It's risky to time the market when you trade options. But you can lower your risk by using technical analysis to identify the market trend. I'm currently learning how to use TA.
Disclaimer: Ensure you have sufficient emergency fund when investing in options. Invest within your risk level - don't gamble and all in your hard earn money. Know what you are doing and don't blindly copy what others are doing.