GS has been climbing back toward November record highs
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.