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Brokerage giant Goldman Sachs (GS - 90) reported fourth-quarter earnings on Tuesday before the opening bell. The company exceeded expectations, reporting a profit of $1.50 a share versus a Street estimate calling for $1.38 a share. Earlier this month, the stock was able to push above its overhead 20-day moving average, which had acted as tenacious resistance during the equity's decline since September. This week, GS has been able to gain support from this key moving average.
Yesterday, the January 90 call on GS was active. Over 9,300 contracts crossed the tape on the option yesterday, with about 7,100 contracts of the volume translating into new open interest. <