Today's high and low in IWM will determine intermediate term trading strategy going into April 21st expiration and beyond. IWM Daily - Intermediate Term Trading Model This position was up over 300% initially, and would have been closed on a 50% trailing stop at about +165%. If out, get back in on any break below IWM 176.00, going out to Jun 16th expiration with the strike of $175P (5.40-5.45). If there is a third wave down immediately ahead, IWM should drop <$150, with those puts going up at least 5X. If still in the Apr $180P, exit on a break above today's high (179.00), hold on a break below today's low (176.00) Notes The markets are fractured, with the DJI and SPX stronger than the Nasdaq (QQQ) and Russell (IWM). There is huge profit potential to the downside, murky potential to the upside (outside of TSLA). A breakdown now would trigger higher confidence trades in IWM and QQQ puts, whereas a breakout above today's highs would breed just more confusion. Day-to-day until resolution.
