![Options Oracle: 11/29/12 too-112912](https://themarketguys.com/wp-content/uploads/2012/12/too-112912-120x100.png)
This ETF, like a large number of stocks, is showing a clear bullish engulfing pattern near a role-reversal support line. The January calls are fairly inexpensive at $6.20. We will have to wait and see what happens with the price movement over the next couple of week before deciding whether to turn this into a calendar spread or just sell them out for a quick profit.