Stock price when the opinion was issued
He likes covered calls because they offer extra income and are tax-efficient. Remember that if the call strategy overwrites the entire portfolio (doing it closer to current prices), you will get more yield, but less upside. In a growth market, then, you don't want any covered calls. So, EMCC will do better than, say, ZWEN.
We are comfortable with EMCC's strategy and would be fine with it if it matches one's objectives. However, it is quite small currently at only $14M assets. We would consider it too small to endorse. There are actually very few options with low US exposure. One we would be comfortable with is IDVO (US traded), with only 6% US exposure. Yields are a bit lower but still above average.
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