IWO (Ishares Russell 2000 Growth ETF) holds 1200+ different smallcap growth companies. Nearly all of these companies have either sky high or negative P/E hence IWO's P/E is -1300!
Since these companies are not profitable they rely on borrowed money & cash reserves to cover costs; making them very vulnerable to rate hikes by the fed & economic downturns/uncertainty.
IWO was able to balloon off of JPow's free money which means IWO has extremely far to fall now that the market is back on hard mode.
During the March 2020 panic IWO fell from a high of 226 to a low of 129! Indicating investors view IWO as a risky ETF. Since reaching its ATH of 339 during Feb 2021 IWO has fallen today to 260 (its new 52 week low)!
https://preview.redd.it/nekvylfqthc81.png?width=734&format=png&auto=webp&s=de5a1d74079804ea54fe89663962b694c0bf7f63
Open interest is starting to reflect concerns over IWO with a 2:1 ratio of Puts:Calls for Jan-May 2022. Interestingly, someone bought 2000 $235 puts on IWO expiring Jan 2023 while only 34 calls Jan 2023 have been purchased.
Morningstar also rated IWO 2/5 stars in 2020 & 2021 if you care about that sort of thing. https://research2.fidelity.com/fidelity/research/reports/getReport.asp?docKey=1515-USA_IWO
The IWM ETF which contains the entire Russell 2000 also has a lot of open interest in puts.
This is not financial advice! I'm currently holding approx. $14k in IWO puts expiring May-Dec and another $6k in IWM puts expiring June-Dec.
TL;DR IWO (& IWM) puts expiring March 2022-Jan 2023 b/c smallcaps r vulnerable to Fed rising rates & any sort of economic downturn; and smallcap growth stocks r extra vulnerable. Strong potential for a 200-1,000% return on these puts.
Michael Burry also bought *$42 Million* worth of IWO puts a few months ago: https://acquirersmultiple.com/2021/05/michael-burrys-top-10-holdings-q1-2021/
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Axis
Lvl1
Starter rifle: Type 38
Other rifles: Type 99 Arisaka
Sniper squad: Type 97 Arisaka (Sniper rifle)
Tanker squad: Type 95 Ha-Go (Heavily camouflaged)
Pistol: Type 94 8mm Nambu pistol
Lvl2
Assaulter squad: C96 machinepistol
Lvl3 Engineer squad: Type 38 carbine (+ unlocked Type 99 mine)
Lvl4 Fighter pilot: Mitsubishi A6M Zero. ( 2x 59kg bombs)
Lvl5 C96 Trench. (With a long barrel and stock)
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Lvl15 Fighter pilot II: Nakajima Ki 43 IIa โOscarโ (4x 59kg bombs) OR Mitsubishi A6M Zero with 250kg bomb and loaded with explosives. ( Designed to kamikaze)
Or A6M zero
Kamikaze attacking the USS enterprise 1945
LVL16 Trooper II. Type 99 Arisaka with Type 100 grenade launcher
Lvl17 Type 97 Chi-Ha medium tank (Heavily camouflaged)
Lvl18 Type 96 LMG
Lvl19 Engineer II: Last ditch Type 99 Arisaka. (Ability to build Type 92 Heavy machinegun)
Early vs Late war Arisaka
Lv
... keep reading on reddit โก
Just watched the two Eastwood companion pieces back to back. One is really good and then the other one is so good that it makes the other one look weak in comparison. Letters is just incredible, something where you can see it's Eastwood's work and something that only he could make, but it also feels like much more beyond that, and that is not meant as a malice to his other movies. Not really something I can put to words myself, which is exactly why a Clint series is needed! If not all of it then at least one starting from Unforgiven!
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