It looks like there's going to be a big bounce this morning as a result of the positive jobs report. It may provide us with an opportunity to resell our May $37 call.
Remember, last week we bought back our May $37 call for $.05. There are still two weeks left before May expiration, so there is still a little premium left in the May options. You might want to throw out an order to sell the May $37 calls again -- this time for about $.25. That would put an extra $.20 in your pocket. For a 10 contract position, that's $200.
The delta for the $37 call is only about 23. So, it would take a decent pop for the QQQQs to get to the point where we can get the $.25. It could happen. One thing is for sure -- if you don't put an order out there, you ain't gonna git nutin!
If you don't have grandios expectations, throw the order out for $.20. That would give you a potential profit of an extra 150 double cheeseburgers.
You can't make any shots you don't take.
Be careful and trade smart!