Shares immediately jumped off the 50-day trendline
Expiration Week Countdown subscribers tripled their money in less than three days with our Goldman Sachs Group Inc (NYSE:GS) June 442.50 call recommendation, which they received on Sunday, June 17.
At the time of our recommendation, bank giant GS had pulled back to its 50-day and 10-week moving averages and bounced near the last earnings report’s anchored volume weighted average price (VWAP). Shares were also up off $440, where there was a large buildup of open interest that could have acted as options-related support, and there was opportunity for the 460-, 465-, 470-, and even 480-strikes to pull price higher on a rally into options expiration.
Short-term options traders had been more bearish than usual, leaving pessimism to unwind. This is per the security’s Schaeffer’s put/call open interest ratio (SOIR) of 1.55, which stood in the 96th percentile of readings from the past year.
Shares immediately jumped off the aforementioned 50-day trendline, and our subscribers scored a 200% profit on June 20, when GS notched its fourth-straight daily win.
