Covered calls on NVDA
NVIDIA Corporation was trading at $206.30 when this page was last refreshed on August 3, 2026. 19 out-of-the-money NVDA calls sat in the 0.15 to 0.25 delta band that covered call writers work in, paying $204 to $360 a contract. None of them cleared the confidence bar.
Numbers on this page come from a snapshot taken on August 3, 2026. They are not live quotes and are not refreshed when you load the page.
| Expiry | Strike | Bid / ask | Premium | Annualized | Keep odds | Break-even | OI |
|---|---|---|---|---|---|---|---|
| August 10 7d | $212.50 | $2.05 / $2.15 | $210 | 53.1% | 82% | $214.60 | 917 |
| August 12 9d | $215.00 | $1.98 / $2.10 | $204 | 40.1% | 82% | $217.04 | 483 |
| August 14 11d | $215.00 | $2.55 / $2.60 | $258 | 41.4% | 80% | $217.58 | 4,631 |
| August 17 14d | $215.00 | $2.71 / $2.98 | $285 | 36.0% | 77% | $217.85 | 0 |
| August 21 18d | $217.50 | $3.10 / $3.15 | $313 | 30.7% | 79% | $220.63 | 2,538 |
| August 28 25d | $225.00 | $3.55 / $3.65 | $360 | 25.5% | 80% | $228.60 | 6,253 |
One row per expiration: the out-of-the-money strike closest to the middle of the delta band, which is the strike you would actually be looking at on that expiry. Break-even on a covered call is your own cost basis minus the premium, not the strike minus the premium, so the column above is the strike-side break-even and yours depends on what you paid for the shares.
What the premium is priced off
45% at the money is well above a market-average tape. You get paid more here. You get paid more here because it moves more.
Can you actually get filled
Median bid-ask spread across these strikes is 4.8% of the mid. That is tight enough that the spread is not a real cost, which is rarer than it sounds. Open interest is deep, 2,538 contracts at the median strike, so getting out early is not a problem. One expiry in this ladder has almost no open interest at all (August 17), and a strike nobody else holds is a strike you will be negotiating your way out of alone.
Dates that matter in this window
Earnings land inside the 45-day window. That is the one date that reliably breaks a premium-selling trade: the stock gaps, the strike you picked on a probability model turns out to have been picked on the wrong distribution, and the vol you sold collapses to reward the buyer instead of you. The engine deducts heavily for it.
What the annualized column hides
The best annualized number in this ladder is 53.1%, on the $212.50 strike expiring August 10. It is $210 of actual cash. It annualizes well because it is a 7-day contract, and annualizing a two-week trade assumes you find twenty-six more like it, at the same premium, with the same risk. You will not.
If it gets called away
Take the $225.00 strike expiring August 28. You collect $360 up front. If NVDA finishes above $225.00 your 100 shares are sold there, and the 9.1% move from $206.30 up to the strike is yours as well. Everything above it is not. The model puts the odds of keeping the premium at about 80%, so assignment on this one is a real possibility rather than a footnote.
The number nobody checks is the cost basis. If you paid more than $225.00 for these shares, that strike locks in a loss on the stock, and $360 of premium does not repair it. A covered call is only a good trade at a strike you would genuinely accept selling at.
Questions people actually ask
What is a good strike for a covered call on NVDA?
The strikes above are the ones in the 0.15 to 0.25 delta band, which is where premium sellers targeting roughly an 80% chance of keeping the premium tend to sit. On the August 3, 2026 snapshot that meant $212.50 out to $225.00, depending on how far out you go. The right one for you is the lowest strike you would still be happy selling your shares at.
How much can you make selling covered calls on NVDA?
The best annualized figure in the ladder above was 53.1%, and the cash it represents was $210 for one contract. Annualized numbers assume you repeat the trade all year at the same premium, which nobody does. Treat them as a way to compare expiries, not as a forecast.
Does OptionsKing recommend selling calls on NVDA?
No. This page is a dated snapshot of the chain, not a recommendation, and the app itself said nothing on this ticker cleared its 75 confidence bar at the last refresh. See how the confidence gate works and the full disclaimer.
Nothing above is a recommendation. It is what the NVDA chain looked like on August 3, 2026, filtered to the strikes a premium seller would look at first, and the prices have moved since you loaded this page.