Trading Alert: The VIX Feb 16 2011 17.0 Call, who's with me?

This is an option alert! I've been monitoring the VIX (the panic index) for quite some time now. What has happened recently is quite incredible! I think anything that's trading under 18 in this index in these economic times is a bargain, and what amazes me is that it has been trading under these levels for quite some time now. I think it's the calm before the storm. In fact, there hasn't been a major storm in quite some time. One is bound to happen, at least before February 16, when this contract expires. My money is one the VIX Feb 16 2011 17.0 Call. Here's a little snapshot of the option contract intra-day. It's last price was 1.55 with a high of 1.95 and a low of 1.50! Amazing!

and here's the bigger picture:

As you can see, the VIX is really to low levels, trading around it's bottom. The MACD signals a reverse trend pattern and the RSI indicating a under sold price. 

Your call.