Russell 2000 ETF (IWM) Gains Nearly 3%, Best Session Since December, Approaching 210-212 Resistance

The Russell 2000 ETF (IWM) has shown significant gains, reaching $208 and experiencing a nearly 3% increase. The ETF is building on its gains, with a 2.3% rise, making it the best session since the December Fed reaction. Market participants are optimistic about further upside in August and September, with the ETF approaching the 210-212 resistance level. Additionally, a large buyer has purchased 17,000 October $220 calls at $4.43, indicating confidence in continued upward movement. The rotation for the rate cut play is also contributing to the ETF's performance. August 2nd call spreads from yesterday are up about 85%, and $200 calls from Tuesday are now hitting above $10.00.