Scentre Group announced an on-market buy-back of outstanding shares, the Company intends to complete the buyback within 12 months. The buy-back will add incremental support to our suggested buy-write strategy.
We recommend buying Scentre and selling covered call options. The stock goes ex-div $0.11 on the 14th of August.
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Selling a Sept out of the money call will generate an additional $0.12 per share of income.
