TLT covered call(buy-write) will yield around 14%. Is this a good place to park money I won’t need for 3 years?

Is it too risky to move my investment from SHV to TLT covered call. I am using Jan 2025 expiry, strike 85 call.

My hunch is: max rates may go up by 50-75 bp, if so the covered call will provide me loss protection by 10%. If rates do go much higher, say 6.5% in next 12 months we would see a lot of companies go bankrupt which is deflationary and that will to job loss and lower wages which will make rates go lower.

Seems like the reward outweighs the risk here?

I will be taken to the woodshed if rates do go to 8% of higher, in that case I will have to plan to stay in this investment longer than 3 years.