Weekly Wiretap Pick Of The Week IWM

MAX Trade Potential: 127%

My Trade Plan Details:

• IWM April 25 $180 Puts around $1 to $1.1`5 area

• Stop: IWM Close above $189

• Target 1: $182
  
• Target 2: $175
  
• Target 3: $171
  

My Reasoning:

With tariffs and global uncertainty just dominating the markets I don’t see the Fed cutting rates any time soon even though Trump wants him to. I think this will lead to a continued fall on the IWM and just markets in general for a little while. 

Right now I am watching IWM to retest the $182 area and possibly take a retest of the $171 area previous low. What I’ll be looking for today is a small rally back up toward $185s to $186 and then look for April 25, $180 puts which should be pretty inexpensive but have a nice return if IWM tumbles toward $182 today or tomorrow.