Trade Ideas
UOA PRO Update IWM 7-29
50,000 30July 283 puts bought for 0.48 to 0.51 above open interest of 11,610 contracts; 50,000 30July 280 puts sold for 0.23 to 0.21 above open interest of 4,451 contracts. Stock 287.47-289.63.
Status Update
Ticker: IWM
Stock: 289.26
New UOA: 50,000 30July 283 puts bought for 0.48 to 0.51 above open interest of 11,610 contracts; 50,000 30July 280 puts sold for 0.23 to 0.21 above open interest of 4,451 contracts. Stock 287.47-289.63.
UOA PRO New Trade Idea IWM 7-23
Ticker: IWM
Type: Bearish Put Spread
Stock: 290.45
New Trade Idea
Ticker: IWM
Stock: 290.45
Targets/Resistance: 288.33, 286.80, 284.93, 282.13, 279.28, 277.88, 276.56, 274.51, 272.54, 276.79
UOA: 110,000 28July 285 puts bought for 0.94 to 1.22 above open interest of 337 contracts; 110,000 28July 280 puts sold for 0.40 to 0.31 above open interest of 341 contracts. Stock 290.19-291.11.
IWM $291.51 Last.
Massive 5 DTE downside put vertical put in place. IWM’s charts are on the verge of taking a turn of the worse. The 50 SMA is holding for now but if it gives way, there’s most “air” down to the next SMA down, the 100.
From the SPYs bearside idea from earlier this week: “…HOWEVER, there’s other developments afoot that could be concerning and result in the market going “off script” with a sudden (and untimely for many) rug pull. We will place those charts in this post as reminders but with the $DXY, TNX & USD/JPY all moving up to near potentially concerning levels, adding this bearsider now seems to be prudent just in case all is not well.”
Trigger: $289.88, flat line.
Strategy 1: Consider the IWM 31July 290.00 puts for $3.95 projected at trigger level today.
Strategy 2: Consider the IWM 21Aug. 290.00-270.00 put spread for $4.90 projected at trigger level today. Uncappable.
Targets: 288.33, 286.80, 284.93, 282.13, 279.28, 277.88, 276.56 (100 SMA currently), 274.51, 272.54, 276.79