man, I'm no tax expert, but I think it will trigger the wash sale. the call and shares are substantially similar. there might be an angle, if the wash sale is triggered, to buy an OTM call w/ the same strike. You lose money on the first call which triggers the wash sale and it covers the OTM call you bought. The premium you collected will probably be more than the money you spent on the second call if the stock hasn't run too far. Then you can profit off the stock move and maybe sell another call the next week or month if you like.