Yes about three days ago I noticed after waking up in the morning that I had a round bump spot on the head of my penis. It has a fleshy feel and is slightly raised off the skin and dark on one side like blood under the skin. It does not itch noris it sore. Has gotten a little bit bigger in last few days about the size of a pencil eraser. Any idea what it could be

The best advice I can give you is to see your doctor and get a urinalysis to make sure it is nothing bacterial or viral. That is a senitive area and no one but a doctor can really tell you what it is.