One of the most popular ETFs to trade is the iShares Russell 2000 ETF (IWM).  The widely-used ETF tracks small cap stocks and is one of the most heavily traded index ETFs in the world.  Recently, a trader made a large covered call trade on IWM using at-the-money options.  The strategy, with options expiring next January, brought in $7.5 million in options premiums, which works out to a roughly 4.5% return in a little less than four months.  The strategist will also collect the December dividend from IWM.