The Russell 2000 index, tracked by the $IWM ETF, experienced a significant downturn, closing down approximately ~4.1%, marking its worst single-day performance since June 2022. This followed a premarket drop of 3.6%. The decline was accompanied by a notable increase in out-of-the-money (OTM) put options, indicating a bearish sentiment among investors. Additionally, the index has seen a Full Investing Cycle Drawdown of -19.6% since its NOV 2021 Cycle Peak, highlighting a substantial decline over the period.
non-Broadening Russell 2000 got smoked for a -4.0% loss yesterday, taking its Full Investing Cycle Drawdown to -19.6% since its NOV 2021 Cycle Peak
The Russell 2000 $IWM closed today down ~4.1% its worst single day performance since June 2022
$IWM Puts Starting To Roll In π These are OTM and consistent sweep orders (bearish) https://t.co/tUS4Q6smGv
$iwm at the open https://t.co/Rda2ojshn8
$IWM Russell 2000 now down 3.6% premarket https://t.co/n0GSzt8Rrd