$TLT, a popular Treasury bond ETF, has experienced a notable uptick, rising by 1.6% amid increased call options activity. Recent trading data indicates that the call options volume for $TLT reached its second highest level in history on January 15, 2025, with a significant block trade involving 20,000 April $90 calls purchased for $1.42 each, totaling $2.8 million. Analysts suggest that this surge in call buying may signal a potential bottom for the ETF, which has been in a downtrend but was considered oversold. The recent MACD bull cross and the possibility of a retracement back to the $90 zone, representing a 50% recovery of the recent selloff, have been highlighted as indicators of a potential relief rally for $TLT. The ETF has recorded three consecutive days of gains as of January 17, 2025, amidst discussions of its long-term performance, which has faced challenges over the past 90 years.