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Goldman Sachs (GS) Showing Resistance Near $249.33

Dec 07, 2017 ( via COMTEX) --

After Dec 6, 2017aEUR(TM)s trading in Goldman Sachs (<a href="">GS</a>)'s patented algorithms uncovered a trade that offers a 3.07% return or 26.06% on an annualized basis (for comparison purposes only), while providing 3.35% downside protection. The trade is a Jan 19, 2018 covered call at the $245 level for a net debit of about $237.69. 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 $123.29 instead of paying about $245.94 for the stock, the assigned return rate for this alternate trade is 4.30%, but the stock has to finish above $240.05 when the sold call expires for this trade to be profitable. Standard & PooraEUR(TM)s has a 3 STARS (out of 5) hold ranking on Goldman Sachs. Technical indicators for the stock have been bearish and support and resistance have been in the area of $243.44 and $249.33, respectively.

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