Schaeffer's Options Update: Traders Pile into Goodyear Tire & Rubber Call Options
CINCINNATI--(BUSINESS WIRE)--Shares of Goodyear Tire & Rubber (NYSE: GT) have surged more than 25% since the beginning of 2009, following the lead of many in the automotive parts sector. Investors are apparently betting that the Bush administration's loan package to the major U.S. automakers will have a positive impact on the sector. For GT, the recent rally has taken the shares to within striking distance of technical support/resistance at the 8 level, prompting an outpouring of call volume from the speculative options crowd.
Schaeffer's Investment Research
Joseph Hargett, 513-589-3800
jhargett@sir-inc.com
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