What you're talking is yield and volatility. When you're running a fund, you need to manage to benchmarks, and MSFT is a great position for exposure. IV is on the low end, there is plenty of liquidity should you need to raise cash, and with a dividend of right around 3% you have a nice predictable return, which is a big deal with institutional investing.
Additionally securities like MSFT, you can comfortably get 'aggressive' through call writing, and juice returns a little more without your risk metrics being outside your targets.
Additionally securities like MSFT, you can comfortably get 'aggressive' through call writing, and juice returns a little more without your risk metrics being outside your targets.