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2 days ago
Checking in with Goldman Sachs (GS) Stock Before Earnings
By: Schaeffer's Investment Research | January 8, 2024
• GS has been climbing back toward November record highs
• The bank giant's quarterly report is due out next week
Goldman Sachs Group Inc (NYSE:GS) is one of the many financial names scheduled to report earnings next week. The bank giant will announce its quarterly results before the open on Wednesday, Jan. 15, in which analysts expect earnings of $7.94 per share, much larger than the $5.48 per share reported this quarter last year.
Goldman Sachs stock has finished higher after three of its last four 2024 reports, sitting out last October with a minor 0.1% loss despite hitting a fresh peak earlier that day. The stock has averages a 2.1% post-earnings move over the past two years, regardless of direction, yet the options pits are pricing in a 5.1% swing for Wednesday's trading.
GS has been climbing back toward its Nov. 29 record high of $612.73 since bouncing off $544 in mid-December, with support at its 60-day moving average. In the last year, the stock had added 50.2%.
Over in the options pits for the past 10 days, the number of puts lines up with the number of calls, which is somewhat rare for Goldman Sachs stock. Specifically, at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), GS' 10-day put/call volume ratio of 1.00 ranks higher than 81% of readings from the past year. Should some of this pessimism start to unwind, it could help GS extend its recent climb.
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JJ8
3 months ago
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DiscoverGold
3 months ago
Goldman Sachs (GS) Stock Hits Record High on Upbeat Earnings
By: Schaeffer's Investment Research | October 15, 2024
• Goldman Sachs reported strong third-quarter results
• The shares have since pulled back today
Goldman Sachs Group Inc (NYSE:GS) reported strong third-quarter results before the open this morning, with profits jumping 45% to earnings of $8.40 per share. Investment banking and stock trading revenue gave earnings a boost, while CEO David Solomon cited an “improving operating environment."
GS initially soared to a record high of $540.51 after the event this morning, though it's pulled back since then -- last seen down 0.5% at $520.32. Year to date, the equity is up 35.3%, with its two larger pullbacks over the past year captured by the ascending 120-day moving average.
Unsurprisingly, the bank giant is popular in the options pits today. So far, GS has seen 38,000 calls and 28,000 puts exchanged, which is already 4 times its average daily options volume. The October 530 call is the most popular contract, where new positions are being opened.
This sentiment represents a slight shift, as puts have been much more popular than usual of late. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), GS' 10-day put/call volume ratio of 1.19 ranks higher than 94% of readings from the past year.
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DiscoverGold
4 months ago
Goldman Sachs $GS plans to cut more than 1,300 employees from its global workforce as part of an annual review process to cull the low performers
By: Evan | August 30, 2024
• Goldman Sachs $GS plans to cut more than 1,300 employees from its global workforce as part of an annual review process to cull the low performers
Goldman will likely cut between 3% -4% of its workforce which would affect between 1,300-1,800 people - WSJ
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DiscoverGold
7 months ago
Traders Scored 200% Profit with Goldman Sachs Call
By: Schaeffer's Investment Research | June 24, 2024
• Shares immediately jumped off the 50-day trendline
• It took less than three days for options bulls to triple their money
Expiration Week Countdown subscribers tripled their money in less than three days with our Goldman Sachs Group Inc (NYSE:GS) June 442.50 call recommendation, which they received on Sunday, June 17.
At the time of our recommendation, bank giant GS had pulled back to its 50-day and 10-week moving averages and bounced near the last earnings report's anchored volume weighted average price (VWAP). Shares were also up off $440, where there was a large buildup of open interest that could have acted as options-related support, and there was opportunity for the 460-, 465-, 470-, and even 480-strikes to pull price higher on a rally into options expiration.
Short-term options traders had been more bearish than usual, leaving pessimism to unwind. This is per the security's Schaeffer's put/call open interest ratio (SOIR) of 1.55, which stood in the 96th percentile of readings from the past year.
Shares immediately jumped off the aforementioned 50-day trendline, and our subscribers scored a 200% profit on June 20, when GS notched its fourth-straight daily win.
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