$VALE - pick up on post earnings decline

In order for this to work, VALE needs to fall after earnings

The plan
1. wait for drop
2. wait for vix on rise
3. buy calls for May

Why May? Because April 19 has sooooo many block/sweep/split calls for $20 strike.

Alternate plan, instead of call options, I would buy commons and gobble up the gains rather than play the options game.
The main point is to wait for the trade to come to you. I think getting in mid $16/share is do-able.