Is Greed Good or Bad

I waited on re-selling the NYX covered call that expired on Friday.  Not only did I miss the opportunity to sell it on Friday when the contracts were already available and my old covered call was going to finish well OTM.  I even waited this morning when pre-market told me it was going down.  One of the ways we small investors can beat the indexes is moving quickly.  I had my chance in the first 15 minutes of trading to sell the NYX call $0.50 higher.  Being greedy - I debated selling the 90 and 95 strikes for June and watched the price drop every couple of minutes until I knew I had to go with the 90.  Then I didn’t take the current ask, just trying to squeak out a few extra dollars.  While NYX was trading for 89.30, I finally went directly in for the ask and received $499.25 after commissions for my NYXFR (June 90) sale.  I’m laughing that I went for more than that when I’m still hoping for a return of 33.54% if the price stays where it is and 36.23% if the call is exercised.  AND that’s just based on nothing on margin.  Going with my model of keeping only 50% of the cash needed to cover the position in reserves, I’ll be looking at nearly 70% return annualized.  Had I not been greedy, I’d have even more.

On the other hand I was greedy with AAPL and it’s paying off for me.  I bought back my AAPL call on Friday afternoon and it opened this morning up and kept climbing.  I debated the 90 and 95 strikes for June and decided I was still bullish on AAPL and didn’t want to sell ITM.  While AAPL was trading at $92.42, I sold QAAFS (June 95) and received $349.25 after commissions.  I’m aiming for a 45% return if everything stays where it is now or a 75% return if it’s exercised. 
If all stays the same for the next 60 days, I’ll pocket ~$850 in passive income from the past 30 minutes of work.  The wait is on…

If I had to buy the underlying stock of from my May MA put and my four covered calls don’t get called away, I’d have to have an account value of $43,750 to cover it all without margin.  My account value is $44,250 right now, so I have another $44,750 in underlying stocks I need to write puts on to truly use my model as I plan to.  If each trade is worth $9k in underlying value, that’s about 5 trades I need to make.  I actually need to try to sell another contract for May so I’m not so lopsided in how much expires each month.