Trade Idea... IWM Fade Trade

I'm looking at a possible, very fast, very speculative trade, IWM short/puts. I personally am thinking IWM May (monthly) $115, really a shorter expiration would be much better, but I'm considering if I were to get stuck and need the time.

This move is parabolic and to me it doesn't look like 3C is improving, in fact in some cases like the IWM and SPY it is looking worse so I have that on deck and looking for confirmation to pull the trigger.

I think other assets that would work would be the leveraged short ETFs like SRTY for 3x short IWM or SPXU for 3x short SPY.

I'll let you know before I do anything, just wanted to let you know I'm considering it as a VERY quick, likely 1-day position.

Keep an eye on the NYSE intraday tick chart (1 min) to give you a feel for what's going on with market breadth, it's a great early warning indicator for a reversal intraday.