01 — IWM · BEAR CALL SPREADS

Best IWM bear call 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
$284.01+2.2% / 30d
IV rank (1y)
31% · moderate
Option vol
761K /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
$291/$296 call spread · Dec 4
36 DAYS · 3.5% OTM · 5 WIDE · SELL TO OPEN
Credit
$173
Return
52.91%
PoP
64%
SpreadExpirationCreditReturn ↓PoP
$288 / $293
2.4% OTM · 5 wide
Nov 20
22 days
$171
$1.71 / share
51.98%60%
$291 / $296
3.5% OTM · 5 wide
Nov 27
29 days
$157
$1.57 / share
45.77%67%
$289 / $294
2.7% OTM · 5 wide
Nov 27
29 days
$154
$1.54 / share
44.51%61%
$290 / $295
3.1% OTM · 5 wide
Nov 27
29 days
$154
$1.54 / share
44.51%64%
$290 / $295
3.1% OTM · 5 wide
Dec 4
36 days
$149
$1.49 / share
42.45%62%
$290 / $295
3.1% OTM · 5 wide
Nov 20
22 days
$144
$1.44 / share
40.45%66%
$292 / $297
3.8% OTM · 5 wide
Nov 27
29 days
$144
$1.44 / share
40.45%70%
$292 / $297
3.8% OTM · 5 wide
Dec 4
36 days
$141
$1.41 / share
39.28%67%
$293 / $298
4.2% OTM · 5 wide
Dec 4
36 days
$138
$1.38 / share
38.12%69%
10 of 18 matchesCustomize filters →

03 — Strategy

Bear Call Spreads, plainly explained

Moderately bearish or neutral traders seeking defined-risk credit income.

P&L at expiration · $291/$296 call spread · 36 DTE

$0+$173−$327$296 LONG$292.73 BE$291 SHORT

Key numbers

Premium collected+$173
Max profit+$173
Max loss−$327
Breakeven$292.73
Spread$291 / $296
Probability of profit64%
Days to expiration36

When this trade makes sense

Use when

    Avoid when

      Read the full bear call spreads guide →

      05 — RUN IT LIVE

      See the highest chance of profit on IWM.

      Option Agent scans live chains and recommends setups based on current market conditions.

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      Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.