01 — IWM · BULL PUT SPREADS

Best IWM bull put spreads setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Small-cap beta exposure with macro-sensitive implied volatility behavior.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
iShares Russell 2000 ETF
Index ETF
IWM
$279.33+0.5% / 30d
IV rank (1y)
36.8% · moderate
Option vol
183K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick · credit spread
$275/$270 put spread · Dec 4
34 DAYS · 1.6% OTM · 5 WIDE · SELL TO OPEN
Credit
$255
Return
104.08%
PoP
63%
SpreadExpirationCreditReturn ↓PoP
$272 / $267
2.6% OTM · 5 wide
Dec 4
34 days
$192
$1.92 / share
62.34%68%
$273 / $268
2.3% OTM · 5 wide
Dec 4
34 days
$156
$1.56 / share
45.35%67%
$272.5 / $267.5
2.5% OTM · 5 wide
Nov 27
27 days
$152
$1.52 / share
43.68%69%
$276 / $271
1.2% OTM · 5 wide
Dec 4
34 days
$142
$1.42 / share
39.66%60%
$272.5 / $267.5
2.5% OTM · 5 wide
Dec 4
34 days
$140
$1.40 / share
38.89%67%
$271 / $266
3.0% OTM · 5 wide
Dec 4
34 days
$139
$1.39 / share
38.5%70%
$271 / $266
3.0% OTM · 5 wide
Nov 27
27 days
$136
$1.36 / share
37.36%72%
$275 / $270
1.6% OTM · 5 wide
Nov 27
27 days
$126
$1.26 / share
33.69%63%
$274 / $269
1.9% OTM · 5 wide
Dec 4
34 days
$125
$1.25 / share
33.33%65%
10 of 17 matchesCustomize filters →

03 — Strategy

Bull Put Spreads, plainly explained

Moderately bullish traders who want defined risk and credit-based income.

P&L at expiration · $275/$270 put spread · 34 DTE

$0+$255−$245$270 LONG$272.45 BE$275 SHORT

Key numbers

Premium collected+$255
Max profit+$255
Max loss−$245
Breakeven$272.45
Spread$275 / $270
Probability of profit63%
Days to expiration34

When this trade makes sense

Use when

    Avoid when

      Read the full bull put spreads guide →

      05 — RUN IT LIVE

      See the highest chance of profit on IWM.

      Alpha Hawk scans live chains and recommends setups based on current market conditions.

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