Goodyear Tire & Rubber was strong again yesterday, and traders continue to position for upside later in the year.
OptionMonster's tracking systems detected the purchase of almost 8,500 October 18 calls against previous open interest of just 226 contracts. The largest block fetched $0.45.
Owning calls locks in the price where shares can be purchased in the tire maker. They could provide major leverage in a rally because of their cheap entry price. For instance, a 30 percent move in the stock price would translate into a profit of more than 300 percent.