Sold a CVX put Mike. Just one contract. Sorry for the typo. I've been stung hard getting too deep in oil stocks in the past. Just too cyclical to be a real DGI play. I'm scared of everything but the big players when oil prices move south. KMI and SDRL are my most recent bad ideas for a longterm hold. KMI was solid as a rock when I bought it and I lost 50%. Trust in what they say is blown. SDRL was total devastation. Got sucked into a yield trap with high debt. When a commodity sector runs and your stock doesn't, it usually means you don't have all the facts you wish you did. Selling the heck out of puts to establish long positions in all sectors in the end. For now I just collect premiums and have few long positions. And it's working amazing in this slightly upwards bias market. I am a genius for now. That will change someday if I get too bold. 
EDIT: Not my intent to scare anyone out of KMI as I know some here are now establishing positions. My basis is probably over $40 and I've been patient. I'll average back out should it rise some assuming oil prices stay more stable as predicted by many.
EDIT: Not my intent to scare anyone out of KMI as I know some here are now establishing positions. My basis is probably over $40 and I've been patient. I'll average back out should it rise some assuming oil prices stay more stable as predicted by many.