Goldman Sachs (GS) sees active trading. The stock is up $1.74 to $107.02 and three-month highs on volume of 1.1 million shares. Expected volume is about 680K. Meanwhile, 14,000 calls and 7,000 puts traded on the investment bank, which is running about 3X the typical levels. Sep 110 calls, which are 2.8 percent OTM and expiring in 31 days, are the most actives. Sep 115 and Oct 115 calls are the next most actives in GS. 30-day ATM vols are down 3 percent to 24 and at the lower end (1st percentile) of the 52-week range (23 – 44). No headlines in the stock today. Shares suffered a four-day losing skid after earnings were reported on 7/17, but rebounded sharply in the weeks that followed and are up 14.9 percent off late-July lows. GS was a leader in the financial space Monday as well — gaining 1.6 percent on turnover of 3.8 million shares. Today’s projected volume is more than 6 million.
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.