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At time \\(0\\), an investor sells different types of call and put options (based on the stock, with strike prices \\(x_i\\) in quantities \\(c_i\\) and \\(p_i\\), resp. \\((i=1,\\ldots, n))\\), and allocates the premium received (denoted by \\(A=\\sum^n_1 (c_i w_i+ p_i g_i)~,~ w_i~=~i\\)-th call price, \\(g_i~=~i\\)-th put price) between stock and bond, with a share \\(\\beta\\) of bonds in the portfolio. So, at time \\(T\\), the investor's capital would amount to  \\[ \\varphi(s_T)=\\beta A e^{rT}+ (1-\\beta)A/s_0-\\sum^n_1 \\{ c_i(s_T- x_i)^++p_i (x_i-s_T)^+\\}~~, \\]  where \\(x^+=\\max (x,0)\\). The problem solved in this paper is that of finding an optimal ``strategy'' \\(c_i, p_i~(i= 1,\\ldots, n)\\) and \\(\\beta\\), which minimizes the investor's probability of ruin \\(P(\\varphi (s_T) < 0)\\). The special case of \\(s_T\\) possessing a lognormal distribution is discussed in some 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