IWM Bearish if/when GME stops

Apparently GME is the biggest holding in the IWM???
Just a simple bearish play back towards IWM 222 towards the options pain zone
Probably gonna do a put calendar of some sort around 220 strikes...that way if IWM breaks higher I'll have some cover and will just buy back the short strikes
The fact IWM isn't making a new high with GME going off today might be a sign
We shall see GME at 340 or so right now

Note

As someone mercifully pointed out to my stupid self 'GME largest holding' is meaningless in terms of IWM price action...
Seemed like IWM was tightly correlated with GME during the original spike and puke from 500 around Jan27 & 28th but that could of been anything & neither here nor there at this point

I did start to open IWM put calendars at the time of the idea, and it was only too funny to watch GME puke like right around the time I published...IWM did drop $2 at that time but based on the type of trade structure and fact I hadn't sized in yet I wasn't prepared to take any tiny profit so I left the trade on looking for some follow through the next day...clearly that didn't happen...So I legged out at 10am at an acceptable loss because the trade was calendarized and not just long puts...
Ended up getting back in around 332 with similar type put spreads just moved the strikes up to around 228/230
Maybe we can get some monthly opex drift effect this coming week, as IWM price moved higher it doesn't seem like IWM options positioning aka max pain zone followed higher...don't suppose PENN & CZR going out of Russell will mean much for price

Tidal_0BX

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Tidal_0BX