Options Traders Move In as Goldman Sachs Stock Tops 200-Day

Goldman Sachs is a big winner in today's trading

Josh Selway

Jun 28, 2019 at 2:39 PM

Bank stocks are having a strong session after U.S. financial institutions passed their stress tests from the Fed. One winner is Goldman Sachs Group Inc (NYSE:GS), who is set to close atop the 200-day moving average for the first time in over a year, last seen trading up 2.4% at $204.12. This price action has sparked interesting GS options trading, too.

gs stock chart june 28

More than 48,000 options have traded, doubling the daily average, and much of this activity is centered at the soon-to-expire weekly 6/28 205-strike call. Others are opening at the weekly 7/5 210-strike call, likely trying to profit on extended upside through expiration at next Friday's close.

Goldman Sachs actually has fairly high volatility expectations surrounding it today, based on its 30-day at-the-money (ATM) implied volatility (IV) of 26%, which ranks in the 70th annual percentile. Over the past year, the security hasn't really surpassed options traders' volatility expectations, since its Schaeffer's Volatility Scorecard (SVS) is at a middling 49 out of a potential 100.

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