CBA FY16 Result

CBA.ASX delivered NPAT of $9.45b an increase of 3% on the same time last year. Fully franked final dividend of $2.22 per share.

Fy17 EPS growth outlook for 3% placing CBA on an FY17 forward yield of 5.5%.

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Best risk reward strategy from here with CBA is to sell European calls at the $75.71 level into Sept for a $2.10 credit, which will keep exposure to the Aug dividend and deliver $4.32 of cash flow from each CBA share, whilst providing some downside protection. For help on this one, please email me




Author: Leon Hinde

Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.

PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:

· Deposit Products
· Securities
· Derivatives
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks