### Comment:
who's saying its going to fall 20% further than it already has?

### REPLY:
If they reduce the dividend payout it might very well do another -20% and you're doubly fucked since it stops being a dividend aristocrat.  I'm just saying this is not a fool proof strategy. Just look at what happened to GE. Had some T myself, luckily I sold a covered call atm and bought otm puts with some of the proceeds one day after last ex-dividend day. Could capture the dividend while staying almost neutral to the stock's movements.

### END.