I sold a covered call (June 2024 1000 strike) on NVDA when it was $700. Now the stock is at 960. I don’t want my shares to be called so I dont need to pay the capital gains tax. What’s the best approach ? Wait until closer to expiration and then buy to close the call option? Or roll up the call option now, eg buy the 1000 strike call back and sell 1100 strike call?

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I’m new to selling covered calls but if I were you, I would roll it. I’m in a similar position (different stock) but I’m too deep ITM already that I would not benefit rolling it. Also, NVDA is stronger compared to my stock, it will only get higher.

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Your broker should have an option that allows you to "roll' the option which will automatically handle closing and opening the new position. I do this all the time to manage my positions.

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You might get be in luck. Major sell off today on NVDA

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