Goldman Sachs (GS) came under pressure about 20 minutes before the closing bell after Reuters reported that the investment bank’s Chief Executive Lloyd Blankfein has hired a high profile defense attorney. Shares touched new 52-week lows and gave up $5.25 to $106.51 on the session. 24,000 calls and 43,000 puts traded in Goldman. Weekly 110 puts were busy, with 4,322 traded. Sep 110 and Weely 100 puts were the next most actives. Implied volatility in GS options shot up 36 percent to 67.5.
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.