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IWM trade ideas

IWM - is stochastic warning of a major support break?IWM has been rangebound for almost one year now. Price was around highs of 170 before the "Covid drop." The 212 area is strong support, but it may break soon. Since price broke out of the upper resistance and fell right back into range, a break of support may soon follow. Let me explain how I use stochastic %K warning signals, which usually lead price movement. My custom setting is 10-period %K and 7-period %D (I do not use D-slow), which I find to work well for my day and short swing trades. When %K (blue line) drops from above 80 to under 20 in 2-3 candles, it warns of more selling, and the corresponding price candles are usually innocuous. Usually I look for price to bounce first and then make a significant drop, as happened at the end of October (white oval). %K gave a warning signal and was followed by a quick reaction bounce before a larger selloff. Sometimes, as is happening now, %K will give a warning and it is followed by lower RSI and continued selling. This signal does not work 100% of the time, but I use it regularly with high success to enter long option trades. Also, the same is true in the upwards direction; a sharp rise in %K from under 20 to over 80 signals a stock will soon make a significant move up. On 6 Jan I bought two put positions when IWM was 218-219: 21Jan 215 strike and 18Feb 210 strike. With markets dropping sharply right now, wait for a good entry. IWM should retest 212 and if it bounces up again instead of breaking support then I have plenty of time to exit Feb puts without a big loss.
AMEX:IWMShort
by OptionsRising
3
210/208 IWM Put Credit SpreadIWM is one of my favourites due to its range in the last year. I have played this range many times with credit spreads and Condors. Trade setup: Simple Put Credit Spread here opened for a 0.205 credit. Goal with these trades is to be a minimum of 10% RoM and no longer than 30 days. Entry Criteria: 1. Red day, for increased premiums 2. Trading within a range (clear) 3. Short put is far enough away (see multiple support points lower) 4. Credit received meets RoM (Return on Margin) criteria.
AMEX:IWMLong
by ThetaTrades
Closed: IWM January 28th 219C/231P Short Strangle... for a 16.48 debit. Comments: Total credits collected of 16.48 (See Post Below); scratching it out here for exactly that amount. It's possible that I could've still made money on this trade since price was in-between the strikes of my inverted setup, but my preference is to look to scratch these out if given the opportunity and then redeploy the buying power in something more productive from an implied volatility and probability of profit perspective rather than hang out in them attempting to make them winners.
AMEX:IWM
by NaughtyPines
5
Can IWM continue with the upward momentum and fill the gapSPY has been quite strong the last couple of days but the same cannot be said about IWM. However, today IWM was able to follow SPY. Bounced off the 211-212.5 support and ran higher. It could next test the resistance at 220. The question is, can it fill the gap at 226-230? The answer is not so fast as there are two more resistance above 220 and near/below that gap. The first being 225 and the next being 227.5. Unlike SPY (which has already broken through the last resistance before ATH), IWM has a lot of work to do to even think of retesting the ATH (It is a long way for now).
AMEX:IWM
by alwaysinlearningmode
6
IWM time to retrace before going upHello Hello people. Back with some conviction with this trade. Monthly fib in Red, Weekly in Blue and short term in Pink. Last time the ride was good upto 222 which I posted last week. Now it's look little overextended and that gives some shorting opportunity. A safe entry is below Blue fib line 222.40 and there are a lot of places to take profit as down as Blue 23% fib line 217. What's the stop loss probably 224.5 do your DD and good luck.
AMEX:IWMShort
by letslearn
IWM short @ 233.61 updatewhile SPXL was dropping I was shorting IWM. I use SPXL for longs only why. Hard to short and what Goes first IWM, XLF . Look see daily red arrow I shorted IWM 233.61 still short look daily stock rolling me took some profits 233.61 to 212 still shrt Look weekly rolling up I am still shrt cause weekly has not broke up thro 30% on stoch and daily has 100 200 50 DAY MA BLOCK WALL only way get thru will be gap up but will it hold plenty cushion and have stops in place Notice how the daily stoch with weekly I did not miss the top nor the bottom Just playing stoch and know where supports are its not hard with wonderful gains its called consistently making money.
AMEX:IWMShort
by john12