The next Key Level breakdown for IWM will be a close below 200 which should trigger an acceleration down to 188-175 in a matter of days to weeks. Unless and until 200 is taken out on a closing basis, sideways is the most likely direction, eating away at option premiums. See the May 20th Update. IWM If IWM breaks below 200 this week we will be buying Jul puts. Longer term traders should look to September. July 19th $195P Sep 20th $190P With over 100 days until expiration, we can go way out of the money, looking to mid $170's by expiration. IWM Longer-Term
