GS – Goldman Sachs (Last:119.40)

At the peak of Friday’s rampage, the short squeeze in Goldman had gained 65% from early March’s lows. Our target most immediately is 120.34, but if the stock gets past it by more than  20 or so cents, look for the  rally to continue to 123.66. Our position yields a theoretical profit over a wide range of prices, but I’ll suggest bidding 2.20 for an April 130 call today just for good measure. Here’s what we already hold: long the July 115-April 115 calendar spread twice for 6.00; short an extra April 115 call for 1.40; and long two July 120-April 120 call spreads for 9.80. _______ UPDATE (9:25 a.m.):  Goldman has come down overnight with the indexes. Lower the bid for April 130 calls to 1.60, and make it for two contracts.  (Note: The order filled at 1.35. No further action is advised for now.)