Short puts are synthetically equivalent to covered calls (same series). They both have an asymmetric risk/return profile. You limit the upside while retaining all of the downside risk. That translates into a poor R/R profile.
Two old expressions about selling covered calls (or short puts) are:
If your momentum system is robust, you should be buying puts or calls, affording yourself the potential for large gains and limited losses.
Not looking for anything too fancy, does anyone know how I could start looking in to this?
(1) Obtain historical data and note the option performance based on your equity momentum system.
(2) Or going forward, capture the option chain on the day that your system indicates that you should go long (or short) and then capture the option chain on the day that your system indicates that you should sell to close (or cover your short). Then evaluate the option performance.