Shares of Goodyear Tire and Rubber (GT) are down .01 to 27.74 today. ?GT is near the top of the 52 week range.
Today paper traded 3500 Aug 26 puts and the Aug 28.5/30 call spreads for .12.? The ADV is 6503 contracts. The OI is less than 1000 contracts per strike.
The volume went up in 3 large blocks.? The volume is pointing to buying the call spreads and selling the put.? This gets the trader a long position for low cash outlay.? There is open ended risk on the short put.
?30-day implied volatility is 43%.?? 10-day implied volatility is 23%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
The Goodyear Tire & Rubber Company is a manufacturer of tires