We recommend buying Woolworths and selling a March $29.01 European-style call option to enhance the yield.
Unlike American-style options, European-style options can only be exercised on the expiration date.
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As such, the share price can trade through the strike price during the course of the option duration without being exercised.
The strategy delivers effectively 3 payments, September & March dividend, plus another $0.55 per share in option income.
Woolworths
