JJ8
2 months ago
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DiscoverGold
2 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
3 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
DiscoverGold
5 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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