With Goodyear Tire (GT) stock trading 13.75, paper bought 9,000 of the Jan 12.5 puts paying a .05 against open interest of 7,900 contracts.? Thus, the trade appears to be opening, bearish.? This trader appears to be taking a flier that GTs recent run from 12.5 to 14 might be turning around.? The stock has dropped .60 in the past two days.? A continued run of this magnitude could put the GT 12.5 puts into play in the next week.? The stock does not report earnings until mid-February, so this could also be a pre-announcement play, although a trade of this type, with this type of volume and this time frame would raise eyebrows if such was the case.
The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires, and related products and services worldwide.