Options Action: Auto Supplier Rides Bailout Talk
Goodyear Tire & Rubber saw a spike in options activity as its stock traded higher on Monday, apparently a positive reflection of progress toward an auto industry bailout in Washington.
The action focused on the April 7.5 calls, which lit up OptionMonster's tracking systems, driving the price of those options up $0.50 to $1.50.
Goodyear's actual stock has come off its highs of the day and now trades at about $6.38, still up more than 5 percent.
GT has seen increased options activity in recent days along with other suppliers for the Detroit automakers.
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Companies ranging from engine manufacturers to radio services have seen broad price swings since the Big Three have lobbied Congress for a multibillion-dollar rescue package.
Other Ancillary Auto Suppliers:
Advance Auto Parts
Jon 'DRJ' Najarian is a professional investor, CNBC contributor, and cofounder of OptionMonster.