I had actually bot to cover my November 16 puts for 5 cents as thaey had a 31 day life.
When KMI opened down I watched the RSI go very negative on the hourly and resold my November 16's for 10 cents and then sold some November 17.50's for 64 cents.
I also bought some shares @ $17.40.
Like you I thought the decline was very over done.
So far it is working.
Since Kinder reduced the desired 2021 dividend from $1.25 to $1.08. I'm hopeful we'll get there in the Q1 2022 Q 1 webcast, (effective Q2 02022). I think Kinder is conservative and wants to aim the free cash flow to debt reduction and hit that often target of debt to equity of 4.0. After that is reached, we'll aim some of that cash flow to dividend increases and possibly some stock repurchases.
As you point out, in between I'll continue to enjoy the generous dividend and supplement that with put sales. I have been selling puts going out 90 to 120 days all this year (been targeting the 16's anywhere from 90 cents to 65 cents). I've currently sold puts out into December and have a slug of 13's due in January 2022.
Hoping for a dividend increase and a stock price closer to $20.00, as the pandemic no longer threatens the demand for fossil fuels of al sorts. I think we're close.