TIME TO BUY BACK TQNT OPTIONS

I am seeing TQNT hit an area of a potential buy back.  Hence, I am looking at buying back the options that were sold a few weeks ago.  I originally sold the contracts for an April, 2011 expiration at $12.00.  These were for $3.00/share or $300 per contract since an option contract has 100 shares in it.

I have set a limit order to buy back the options at $1.00/share which would be a 66% gain.