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Goldman Sachs (GS) Showing Bearish Technicals With Support At $246.96

Dec 05, 2017 ( via COMTEX) --

For a hedged play on Goldman Sachs (<a href="">GS</a>) MarketIntelligenceCenter.comaEUR(TM)s patented trade-picking algorithms selected a Jan 19, 2018 $250 covered call for a net debit in the $242.05 area. That is also the break-even stock price for the covered call. This trade will return 3.28%, or 26.64% annualized (for comparison purposes only), in 45 days. This covered call also provides 3.43% downside protection. A lower-cost play on Goldman Sachs would use a longer term call option in place of the long position in the stock. Look at the Jan 18, 2019 $125 call and the same sold call for a net debit of $119.80.This trade only has 2.33% downside protection, but the assigned return rate rises to 4.34% or an annualized rate of 35.20% (for comparison purposes only). The current 52-week low is $209.62 and the 52-week high is $255.15. Goldman Sachs stock has been showing support around $246.96 and resistance in the $256.74 range. The stock closed Dec 4, 2017's trading session at $250.64.A

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