there has been a HUGE amount of iwm option volume in the last few days. alot of straight up puts and calls. the guy behind me does the er2 hedging for our guys on the floor. i think alot of the spikes are coming from this. hes done a couple 300 lots and a ton of 80 and 90 lots. i think this is part of the reason. locals in iwm pit racing each other. dont forget it is expiration week. jim