- Unusual Whales captured significant unusual options activity for Goodyear Rubber and Tire Co. (NASDAQ:GT)
- Traders are focusing on the $21 call strike option for January 21, 2022
- Unusual options activity has continued since Unusual Whales last covered GT
November 1st; 10:55am AT:
Every day, Unusual Whales provides us insight into unusual options activity. Today, we bring that gaze once again to Goodyear Rubber and Tire Co. (NASDAQ:GT).
It is worth noting that the Akron, Ohio based multinational tire company has demonstrated unusual options activity in the recent past. Unusual Whales wrote in an article for Nasdaq just 6 days ago (October 25th) about options activity captured by the Unusual Whales flow tool, wherein 3,300 contracts traded on the $19 strike call option dated for December 17th, 2021. GT at the time was trading at $20.19 per share. We can see this unusual volume compared to historical call volume for the stock in the image below, where 16,860 total call contracts transacted, compared to an average in the low thousands.
This morning, the preference has shifted from the $19 strike to the $21 strike call option dated for January 21, 2022.
In the image above, taken from flow captured by Unusual Whales, we see that the vast majority of options activity focuses on that same strike and date. Most notable of these orders (all over $5k in premium) features 4,015 contracts of the $21 strike call option for January 21, 2022. The total premium spent on these contracts was $590k. These contracts are representative of 401,500 shares. Of all options flow on GT today, nearly 91% has been flagged as bullish by the Unusual Whales flow tool. The flow pictured below, from Friday, October 29th, demonstrated a mixed, bear-leaning sentiment.
Seemingly in tandem with this unusual options activity, we see the Goodyear Rubber and Tire Co. stock price moving, as well. At the end of the market trading session on Friday, October 29th, GT closed with a price per share of $19.12; over $1 lower than when Unusual Whales last covered the stock on Nasdaq. Today, while writing this article, the stock has risen 7.22%, to a share price of $20.50.