FXE has rebounded sharply, apparently due to concerns over Greece greatly diminishing. Those concerns are still quite valid in my opinion. What will the Euro do, will it rise further, or fall down again?
Here are straddles (strangles) for FXE for February and March. With straddles an investor can profit regardless of whether the underlying stock goes up or down, provided it moves the minimum necessary amount.
Please do your own due diligence. This is not advice. Options are very dangerous and may cause 100% loss.