Why are innovation stocks used as the reference assets?

ARK's innovation universe, the same one underlying the ARK Innovation ETF (ARKK), is made up of companies in disruptive sectors like artificial intelligence, genomics, energy storage, robotics, and blockchain. These companies tend to have wider price ranges than the broad market. That characteristic is directly relevant to this strategy: wider price ranges produce more premium in the options market, which is what funds the coupon. By using innovation stocks, ARKY converts the same dynamic price behavior that makes these stocks exciting for growth investors into a potential yield stream for income investors. The same universe, expressed differently.