Put writing is essentially the same as covered call writing; same profit & loss curve for the same strike and expiration date. There are a few tiny differences (see Naked Put vs. Covered Call). Recently, Oleg Bondarenko at University of Illinois at Chicago did a deep analysis of put writing on the indicies. His main findings:
1. Over 30 years, the PUT index outperformed the traditional indicies on a risk-adjusted basis.
2. Over the last 10 years, the WPUT and PUT index delivered similar risk-adjusted returns, while both outperformed the S&P 500 index.
3. Over the same 10 years, the WPUT and PUT index had lower standard deviation, lower beta, and lower max drawdown compared to the S&P 500.
4. From 2006 to 2015 the average annual gross premium collected was 24.1% for PUT and 39.3% for WPUT (WPUT uses weeklys, and PUT uses monthlies).
5. Trading volume in the weekly S&P 500 options has increased dramatically over the last 5 years. In 2015 there was an average volume of 340,000 contracts per day (36% of all CBOE S&P 500 options).
Impressive stats, and almost identical to what several covered call studies have shown in the past. To read the reports yourself, see the Put Writing Study and Multiple Covered Call Writing Studies.