Starting with Diagonal Spreads. Would take the stock at the short strike and hold the protective put as cheap insurance.
(Also the spread requirements in a retirement account are much lower than straight short puts)
Bought to Open INTC Mar 19 2021 22.5 Puts/ Sold to Open INTC Dec 24 2020 43.5 Puts at $0.02 Credit.
Bought to Open INTC Mar 19 2021 27.5 Puts / Sold to Open INTC Dec 31 2020 43.5 Puts at $0.12 Credit.
INTC YTD Low = 43.61