IWM 12/10 Looks to be headed back to that split channel which aligns with 216 Fibonacci level.. If we fall below there the next supports are 211 and then 204
IWM trade ideas
$IWM target 201$IWM target 201
Target 1 was hit beautifully… so taking it out onto the 1W 5Y chart target 2 looks like a nice place to sell puts at this time. I would happily start a position there. Right now it’s kind of in the neutral zone, but technicals are pointing to down.
Let me know your thoughts and what you guys are doing.
Have fun!!
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I usually trade both ways, but lately I’ve been focusing more to the downside because of how high the market is. It makes more sense to sell puts right now, and I’m usually at Target 2.
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
Very often you have to look at my charts from the perspective of where I’m looking to sell puts. But I also do open positions still once in a while.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can.
Have fun, y’all!!
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Opening (IRA): IWM January 21st 200 Short Put... for a 2.35 credit.
Comments: Premium is not as good as it was last week (current 30-day implied is at 29.6%), but the 16 delta strike's still paying better than 1% as a function of strike price. Will generally look to take profit at 50% via close or roll out.
$IWM weak this morning...We pointed it out as a short idea in the group on the live stream earlier...
Closing (IRA): IWM January 21st 188 Short Put... for a 1.37 debit.
Comments: Filled this for a 3.20 ($320) credit in Friday's weakness/high implied. (See Post Below). Out today for greater than 50% max with 44 days to go. 1.83 ($183) profit.
IWMIWM is about to run into resistance. The gap above could potentially act as resistance and the gap below will act as support. A break above or below will determine the direction. Since it is in a down trend and below the 50SMA I'm gonna remain bearish.
IWMWhite lines- broadening wedge
Yellow line -Split
Blue and gold wave- 100 and 200sma
Broke above split and is now heading back to resistance here at around 224.
also Both moving averages I mentioned are in that 224.50 area. If we break above our next target would be 227. if there is a rejection we could pull back and test that 219 area
IWM: Nasty Sell-Off Now Ready For Reversal IWM Looking to get back to 226.90 by Friday. Get over there and back to ATH after a few days of consolidation.
IWM breakout watchMaking the 4th tap at this level which increases the odds of a break.. Long term consolidation = big move above if it breaks. Like it above the box. Fibs are targets as usual.
IWM - Small Cap Longs are trapped. Big monthly breakout that was anticipated by everyone... This could get ugly and painful...
Gap Fill? haha
High/Low Index confirming market breadth breakdownHere is a shot of Lazybear's beautifully colored High/Low Index.. That massive red area on the left is the original March 2020 Covid drop. Notice how it's pretty clear sailing all the way until..... now. We haven't even hit the bottom yet, but you can clearly see we're in the danger zone where securities making new 52 week lows are vastly outpacing ones making new 52 week highs. This is a pretty dire market breadth indicator, and anyone who's been following the Russell 2000 is already well aware of what's happened the last two weeks, with the 4th fastest time EVER going from a record high to formal correction status.
Anyone heard of the Hindenburg Omen? Well, you should make yourselves very aware of it.
iShares Russell 2000 ETF (IWM)Someone brought this to my attention and I put a chart together. Did we hit the bottom or not yet? All feedback welcome, it helps all of us!
IWM updateSimilar setup here as Dow jones.
Has found support on 213 and will now I think really back up to either 216 or 219 which are both fibonacci levels. Once at those levels mentioned I think we will reject and head lower
𝗦𝗺𝗮𝗹𝗹-𝗰𝗮𝗽 𝗨𝗽𝗱𝗮𝘁𝗲: $IWM Weekly. Fake Breakout?If support fails and confirms a fake breakout things could get ugly. One of the more important trendlines to watch!
$RTY_F $AMC $CROX $SPY $ES_F $QQQ $NQ_F $VIX $TLT $TNX $DXY #Stocks #Trading 📈
will the Russell 2000 hold the line? $iwm $rut Russell2000 has been sideway for most of 2021. is this distribution or the pause before the next launch. the broad market sell off has me thinking bad things for the indices. Price to sales on the biggest names seem to be getting reprices from the lofty growth rates. time will tell, but I dont think this is the bottom.
Time for smallcaps?After a long period of $QQQ outperformance, this is the time when I would look for smallcaps ($IWM Russell 2000 etf is a good proxy) to take the lead.
Opening (IRA): IWM January 21st 188 Short Put... for a 3.20 credit.
Comments: Selling 16 delta premium in the broad market exchange-traded fund with the highest 30-day, which is IWM, at 41.5%. I wanted to use the January 14th expiry (42 days until expiry), but the lowest strike available there was the 193, so went out to the monthly instead.
Rolled: IWM January 7th 234 Short Call to 222... for a 3.43 credit.
Comments: You know the drill: rolled down for a realized gain on the call side and to cut directionality. I've collected a total of 13.86 for what is now a 10-wide inversion 222C/232P, so the most I can hope to make out of this is 13.86 -10.00 or 3.86. Current break evens: 218.16 on the put side, 235.86 on the call.
Rolled: IWM December 31st 250 Short Call to 230... for a 1.76 credit.
Comments: Rolling down for a realized gain on the call side and to cut net directional delta, with the resulting short strangle being the December 31st 213/230. Total credits collected of 4.98.
Rolled: IWM December 23rd 234 Short Call to 224... for a 2.09 credit.
Comments: Rolling the short call down for a realized gain and to cut net directional delta. Total of 8.10 in credits collected, with the roll resulting in a 222.5/224 short strangle. Even with today's move and the roll down of the short call, the setup remains net delta long (around 14.33) with break evens at 214.40 and 232.10.
#IWM Russel 2000 has found support at the old channel resistanceNice bounce off the breakout level for small cap stocks in the us. This should bode well for further upside
Historical Behavior post-recessionsThe Russell 2000, as well as the S&P500 tend to have a similar behavior coming out of market bottoms. In this case, we analyze the potential move with past historical data.
The first year is usually a strong one, the second one there is consolidation and accumulation, the third there is a strong rally that loses steam near September.
Using market bottoms from:
1974
1982
2003
2009
