Put Seller in Goodyear Tire & Rubber

Goodyear Tire & Rubber Co.

has seen more than 4 times its average daily contract volume change hands during the first half of Friday's session with the September 11 puts receiving nearly all the attention. More than 23,000 contracts have traded including a block of 18,000 contracts being sold at $0.60. It looks like it was tied to $11.15 stock on a 28 delta and appears to be a bet that Goodyear's stock will remain at or slightly above the $11.00 price level over the next three months. Friday's volume has also created the largest open interest position in all of the company's listed options.