Dividends , The Wheel --Cash secured Puts and Covered Call writting

[leftovers]

I haven't been following NGL I have been following DCP as I hold 300 shares. Fortunately I purchased the April 25 strike Puts a couple of months back and now they are at 12.50 trading the same price of the stock so I am still even.

I would of had my Azz served to me if I hadn't. Now before April 20th I will have to sell but I will only suffer a 1-2 dollar move.

Oil has been clobbered by the Virus as people won't be traveling any time soon. Plus businesses and schools are shutting down all over the globe this could get worse before it's get better depending on how things pan out.

I did alright this week as I have a large cash position and been taking out
PUT Calendar spreads to collect Put Premium on Bellwether dividend stocks.

I make my Put Purchase 2-3 month out and make sure the stocks I trade are on the weeklies. This week My stocks were UPS CAT HON RDS/B T and for MIC. All the Puts I sold for the week ending 3/6 expired worthless so I keep the premium and on Monday I will sell them again for the week.

Since I still have the PUTs I bought for April I can sell fresh premium and it has no effect on my option buying power since they are protected by the Calendar spread. If the stocks drop into the money I will just take ownership and be protected to any further downside by the PUT. I can then roll out the put if the market continues it's decline.

With this insane volatility it's Great way to skim Premium and or enter these stocks at a discount to the current market.