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Investing

Stock Options Signaling Big Pressure on Goodyear ?

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By Jon C. Ogg Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

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Goodyear Tire & Rubber Co. (NYSE: GT) is up on a normal trading day and everything looks fine on the surface.  But… A 1.45% gain to $11.19 on 4.4 million shares past the mid-point of the day does not seem at all out of the ordinary until you look at the stock options trade history of the current trading day.

What stands out so oddly is that there have been a whopping 23,000 put option contracts traded in the $11.00 strike prices which expire in September (9/21 to be exact).  This is representative of 2.3 million shares of common stock on a fully leveraged basis and the last trade was around $0.63 per contract. Even if you go out to the January 2013 and the January 2014 put and call contracts you do not see volume of this sort.

On Twitter’s stock search we see that @OptionsRunners said someone is shorting it with expectations of a 25%-ish drop.

We have searched around for other comments and it seems uncovered so far.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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