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.
0.72% MER good.
Fundamentals of banking industry improving.
Would be a good time to buy given share price.
Lots of risk priced in.