GS – Goldman Sachs (Last:150.14)


We’ve waited patiently for the stock to reach a long-term rally target at 149.42 (see inset).  It is nearly there, and to get short I’ll suggest buying four March 145 puts when the stock is within six cents of the target. The calls settled at 3.53, but it’s difficult to estimate where they’ll be trading with GS $2.30 higher.  We’ll risk $100 theoretical on the trade, stopping ourselves out of the options if they trade for 0.25 less than we’ve paid for them. _______ UPDATE (12: 10 p.m. EST):  We’ll use 2.75 as a basis for four March 145 puts. This is toward the high end of the buying range reported in the chat room. Let me suggest a rigid, uniform stop-loss for all players at 2.25. This is more than the $100 I’d intended to risk initially, but Goldman’s rally just seems so miserably STUPID at this point that we’ll want to give our short position just a little extra room.

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