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Goldman Sachs (GS) Showing Bearish Technicals With Resistance At $254.55

Dec 04, 2017 (Marketintelligencecenter.com via COMTEX) --

After Dec 1, 2017aEUR(TM)s trading in Goldman Sachs (<a href="http://www.marketintelligencecenter.com/symbol/GS">GS</a>) MarketIntelligenceCenter.com's option trade-picking algorithms uncovered a trade that offers a 2.70% or 21.44% (for comparison purposes only), while providing 4.16% downside protection. The trade is a Jan 19, 2018 covered call at the $245 level for a net debit of about $238.53. The net debit is also the breakeven point for this trade. For a higher return, consider buying a longer-term call option, like the Jan 18, 2019 at the $125 level. By buying the call for $126.25 instead of paying about $248.93 for the stock, the assigned return rate for this alternate trade is 3.58%, but the stock has to finish above $240.84 when the sold call expires for this trade to be profitable. Technical indicators for the stock have been bearish and support and resistance have been in the area of $241.21 and $254.55, respectively.

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