I’m in a covered-call mess and want to hear how experienced CC traders would manage it.
I own 609 shares of NVDA. Current short calls expiring 05/13/26:
\- Short 4x NVDA $172.50C
\- Short 2x NVDA $185C
For context, I sold/rolled these during the March 31 weakness thinking NVDA might keep cooling off, but instead NVDA ripped hard with the whole AI/semi rally. Timing was obviously bad, and now I’m trying to manage the covered calls without making a second bad decision.
The calls are covered, so this isn’t naked-call risk, but I’m capped hard and trying to avoid losing shares if the roll math makes sense.
My rough plan is to prioritize fixing/freeing the 2x $185C first since they’re closer to the stock price, then treat the 4x $172.50C as the longer repair project.
Questions:
1. Would you roll the deep ITM $172.50s same strike/out for time, or only roll up if the debit is reasonable?
2. Would you focus on the 2x $185s first?
3. At what point would you accept assignment instead of paying a bad debit?
4. Any rules you use for deciding when a deep ITM covered-call roll is “worth it”?
Not looking for YOLO advice. Just trying to learn proper covered-call repair/risk management.
Thanks 🙏