Near Perfect IWM Straddles

IWM tracks the Russel 2000 index.

I bought June IWM 85 puts when IWM was tarding at 85, May 31. They were sold today on the spike down around 12:30PM.

Late last week I also bought some 81 calls to hedge this position, I still hold the calls. It remains to be seen what will happen to them.

The gain on those IWM puts was 3.45X.

IWM is still my most preferred ETF for options. It is extremely liquid and easy to trade. Just watch out you don't buy the new weeklies by mistake.