I tend to be uncomfortable when using a target as obvious as the one shown. However, if you accept that Mr Market is going to try to screw with your head as he carves out a bottom somewhere near the 159.80 pivot (note: The Devil himself could not entirely avoid a Hidden Pivot as clear as this one), then by all means give bottom-fishing a whirl. My suggestion is to use call options that expire today, perhaps centered on the 161.00 or 161.50 strike. To further guide you, if DIA bottoms at the target early in the session, you should try to buy out-of-the-moneys that you think have a chance of finishing at- or in-the-money and which can be had for 1.00 or less.
