California utilities are tanking this morning. The sole reason is that CA didn't pass wildfire legislation. EIX down almost 25%. Dividend yield is now 6.5%. 2.8x divvy coverage ratio. A 25% haircut for an event that may never happen seems way overdone IMO. If nothing else you could see a dead cat bounce in the coming week or two. I bought some Sept. 18 $55 calls.