Options Traders Blast Goldman Sachs After Earnings

A slowdown in dealmaking had profits slipping year-over-year, though

Fernanda Horner

Digital Content Manager

Jul 18, 2022 at 10:13 AM

Goldman Sachs Group Inc (NYSE:GS) was the latest bank giant to enter the earnings confessional, this morning reporting better-than-expected second-quarter profits and revenue. However, profits were lower year-over-year, following a slowdown in dealmaking. In response, GS is up 3.9% at $305.27.

Short-term options traders are incredibly bullish. This is per the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.72, which stands higher than just 1% of readings in its annual range.

Drilling down to today's options activity, 8,336 calls and 5,740 puts have already crossed the tape, which is five times what is typically seen at this point. Most popular is the 7/22 310-strike call, followed by the 315-strike call in that same weekly series.

Goldman Sachs stock was trading at a one-year low of $277.84 as of July 14. Even amid today's pop and a 12% gain on Friday, the shares are running into resistance at their descending 80-day moving average. Year-to-date, GS is still down 19.2%.

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