Back by popular demand! I’d mothballed our speculative long in this stock because it had become too depressing to watch it languish each day. However, the position is still ‘live’ and — who knows? — we could even get a play if Wall Street’s quasi-criminal silliness gets out of hand. We hold 32 July 195 calls with an average cost of 0.14, and our goal is to short July 200 calls against them for at least as much as we paid. For now, though, we’ll keep our fingers crossed, doing nothing that would get us in any deeper. _______ UPDATE (May 29, 3:55 p.m. EDT): Goldman shares are showing surprising pluck today, up $2.30 at the moment at $163 with the Dow off more than 100 points. I’ll formalize the trade recommendation above with the suggestion that you offer 32 July 200 calls short for 0.15, good-till-canceled. If the order fills we’ll have a virtually riskless shot at making as much as $16000 if Goldman forges higher over the next seven weeks. ______ UPDATE (May 30, 11:07 p.m.): The July 200s traded yesterday for 0.15 and some fills were reported in the chat room. Any others, before I track the spread officially? _______ UPDATE (May 31, 10:01 a.m. EDT): July 200 calls have traded as high as 0.17 this morning, so I’ll consider the spread done 32 times for a 0.01 CREDIT. Do nothing further for now, since this position cannot lose.
