We have been waiting for IWM to end its retracement and begin a new leg lower. (See Big Picture from Dec 21). A close today below the lower level of the Fib retracement window (221.99) would strongly suggest a new leg down has begun. Most Attractive IWM Puts Feb 18th $215P (4.50-4.60) Feb 18th $210P (3.25-3.35) Feb 18th $200P (1.75-1.80)
