Goldman Sachs Group Inc (GS)

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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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