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.
Hard economic landing will not be good for US banks. Would be risky if economy slows down. Would not buy. Wait for markets to fall before investing.