Stock price when the opinion was issued
Yield gets up to about 10% with the covered call overlay. Likes US banks, cheap relative to 5-10 year history. If economy continues to recover, banks should be there. Last 3 months, this has returned 17.5%.
Are you looking for income, or do you just want exposure to US banks? Makes sense if you need the income. He'd argue that you'll get a better total return owning the underlying shares, or an ETF of US banks, instead of using the covered call strategy.
With the US banking sector 'settling' down, ZWK does look a bit better. It is up 8.6% in the past month as the crisis subsides. We still have recession and rate risks, but with no new bank failures in a while and confidence returning, we would be more comfortable with ZWK today.
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