I like it. It started it down trend 17.50 thru the 16.47 candle. That your primary downtrend line and if you draw a line touch those to down to todays date you will find that line hit at the current 100ma. That you primary decending wedge with the bottom being established 8.40. Anyway then at 16.47 it excelerated a secondary decencing wedge it broke through at the first of the year. So now I would look for it to test the primary decending triangle. What this has going for it IMO is the 50/100ma is fish-hooking under the price and should lift it. The weekly chart is has a macd cross on it and the adx di's are showing the buyers are rising and sellers are falling. Look at August 2010 and your see the same setup.
So the first play for me would be seeing it break last high which was 10.92 to 11.91. At 10.91 the 11C strike should be around 0.30 and if it hits 11.91 those options would be 0.98 minus erosion. So your looking at a possible 226% play. Like always need the market and let the play come to you by showing she already moving, were not thinking it going to, showing she has enough strength to break the last high.
It has april 10th earnings coming up that might help the case. I would worry a little about the holding through earnings report. This falls in the catagory of my earlier post about earning plays. This thing been dropping like a rock and there is a reason. If you are holding through earnings then it would be wise to really really really research it.
Let me know if you are seeing what I am saying chart. By the way I put this on my hot list. I like it because it's a safe low risk/high return play.