CHL/John – It's the AT&T of China.  Great long-term play but, like T, it's going to take a hit on revenues when people are cutting back (people missing their payments, etc.).  

Contracts only go out to March so not that great to play but you can sell the Dec $35 puts for $2.65 to net in for $32.35, a very fair price and let's say we sold 10 of those for $2,650 and bought 20 of the March $27.50 ($7.50)/$32.50 ($3.65) bull call spreads for $3.85 ($7,700).  That would be net $5,050 on the $10,000 spread – not bad for 8 months "work". 

Made $15.5Bn last year and they pay a 6.25% ($2.22) dividend.  T Made $14Bn last year and $7Bn so far this year so not very affected by virus and I doubt CHL will be either.