Long term ATM covered short straddles

A covered short straddle is when you hold 100 shares of stock and you sell an ATM covered call, along with an ATM cash secured put, of the same strike and expiration. This is not to be confused with short straddles, which have unlimited risk to the upside. The "covered" part takes care of that risk. Making this a far safer alternative. To state the obvious, this trade is ideal for someone that is comfortable with capped upside and welcomes the assignment of more shares. That last part is key. If you don't like the stock at -50% from your entry value, don't sell puts on it. My "twist" is selling these straddles on very long term DTEs. I think all that extrinsic value offers flexibility and good "cushion" for the trade. It's also like capturing a huge return, at once. The only "gotcha" is time debt. Your money is "locked up" until expiration. But it's a similar concept to dividend investing, except you get the yield up front. Looking at this example trade I'm honing in on SLV. At 393 DTE , I'm getting 22.12 in premium from an ATM covered short straddle, a 36% return. If SLV expires higher in 1 year, the shares get called away and maybe I miss a lot more upside, or maybe I don't miss much. The bet is you get paid up front, at the expense of capping that prospect. If SLV closes lower, I get assigned more shares. My cost basis has also dropped 36%, so I should still be able to collect decent premium from covered calls for the next year. Anyway, I wanted to see what the community thought about the trade. Would you trade something like this? Have you traded ATM covered short straddles before and what was your experience? Anything I should look out for, or anything I'm missing? Thanks