The iShares Russell 2000 ETF ($IWM) has shown significant performance, clearing the 220 level and reaching its highest point since January 2022. The ETF has been up for six consecutive days, with a 2.4% increase, outperforming the Nasdaq. Investors have been active, with millions of dollars in out-of-the-money calls and put spreads being traded, including $2.30 Nov 1st put spreads. The market is anticipating large moves with the upcoming Federal Reserve meeting, and there has been notable activity in hedging strategies ahead of the election week. The short term outlook remains impressive.