Trade of the Day: Goodyear Tire & Rubber (NASDAQ:GT)

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Every week, I scan thousands of potential option plays to develop your exclusive list of Power Options. These Power Options rely on a proprietary, scientific approach that removes the guesswork and allows my powerful software to identify the best option buys.

Today, we’ll look to establish a position in Goodyear Tire & Rubber (GT) as the correction seen since the end of 2015 has come to an end. This was confirmed in recent trading as GT consolidated throughout much of September just above key support, and then ultimately surged higher with bears ceding even more ground to the bulls.

Buy to open the Goodyear Tire & Rubber (GT) Jan (2017) 34 Calls (GT170120C00034000).

Note: This is a relatively thinly-traded option chain, so avoid buying a large number of contracts at once to prevent wild price swings; instead, enter your orders in smaller lots of five or 10 contracts.

InvestorPlace advisor Ken Trester brings you Power Options Weekly, which delivers 5 new options trades and his latest trading advice to you each Friday. It’s the perfect “bridge” between investing in ordinary stocks and the turbocharged world of options trading. In Maximum Options, he brings you his personal trades using high-probability, “professional grade” strategies.

Trester has been trading options since the first exchanges opened in 1973 with a winning streak that goes back to 1984 with money-doubling average annual profits since 1990.


Article printed from InvestorPlace Media, https://investorplace.com/2016/09/trade-day-goodyear-tire-rubber-nasdaq-gt/.

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