Step 1: A regular, fast atrial tracing with a continuous undulating baseline resembling the teeth of a saw points to atrial flutter.
Step 2: The atria fire around 250-350 beats per minute through a macro-reentrant circuit, usually around the tricuspid annulus, producing the F waves; the AV node blocks a fixed ratio of beats so the ventricular rhythm stays regular. Typical (type I) and atypical (type II) forms exist.
Step 3: This separates it from the options offered. Atrial fibrillation has no discrete waves and an irregular ventricular response; arrhythmia is merely a generic label; cardiomyopathy is a myocardial disease without a defining strip. The sawtooth flutter waves seal the diagnosis.
\[\boxed{\text{Atrial flutter}}\]