We’ve been long Woolworths following the recent Algo Engine buy signal.
Through adding a $28 December covered call option we’ve boosted the annualized cashflow to 10 – 12%, which includes capturing the $0.58 September dividend.
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WOW reports on the 23rd August. The stock is trading on 20x FY18 earnings and 3.3% forward yield.
FY17 EPS is likely to around $1.50 per share and the market is forecasting underlying EPS growth into FY18 of 8 %, to $1.65 per share.
