yeh but in reality you might get your 1 - 2% per month, but your capital could be eroded in the process. and this is the catch which people need to be aware before investing into this fund.. if they are happy with that risk, then all is cool
but when you're investing for cashflow, the principle value can't be taken tinto account - unless it's leveraged. now don't just quote that bit and argue with me - read on.
if you are getting 10% on $10,000 per annum, then as long as the 10% on $10,000 holds up, it doesn't matter if the principle goes down to $5000.
in RE - this works great - the value of the asset can go up or down but generally the initial purchase yield will hold and/or get better. the issue with shares is, the call value relates directly to the share price, so income is reduced if the share price reduces.
pick a stable stock and run. hard to do, but then, stable stocks return the least in option premium - generally.