Auto Mechanics.... My wheel is squeaking.

One of the aluiminum wheels on my 1996 Olds is annoying the hell out of me and I want to know if I can fix it without having to purchase a new wheel. I brought it to my mechanic and it’s not the brakes, struts, or axel. After switching the wheel to the front of the car, the squeaking moved with it.

I’m now convinced that the sound is due to a small ‘flat’ spot on the wheel. Looks like I might have hit a bump or curb a little to hard. The squeak emits at the same point on every revolution. I’m wondering if the tire loses it’s seal with the rim momentarily each time the wheel goes around. Has anyone else had this problem and is there a solution? I haven’t checked the prices of a new GM rim, but I know factory parts arent cheap.

Squirt it with a little wd-40 and see what happens.