And if D goes down to 40 or 45, you lose a fortune. Yes you can pick up some spare change by selling puts, but your risks are enormous if the stock spikes downward. Leverage is wonderful when it works your way, it can be devastating when it works against you. Don't forget the huge downside risks taken when you sell puts.
If you hold any shares long then you have higher downside risk than the seller of ootm puts. You have downside of $51.67, whereas the person who sells $45 puts has downside of only $45 minus his put premium. So it is you who have the higher risk.