Seeing relative weakness in Goldman Sachs (GS, news, chart, volatility) after JP Morgan cut fourth quarter and 2009 EPS estimates on both GS and Morgan Stanley (MS). Shares of Goldman are down $2.27 to $78.45 in active trading. Volume beginning to pick up in the November puts, with the November 75 leading the most actives. 2,300 traded in the first 15 minutes, with 90 percent trading on the offer. Implied volatility remains elevated around 125 percent.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.