NEW DIRECTIONAL PUT PLAYS
Goldman Sachs - GS - close: 151.10 change: -3.06 stop: 156.05
Why We Like It:
The sideways consolidation in GS looks vulnerable. The stock could breakdown again. If it slips lower the next level of support is the $135-137.50 zone. The low last month was $147.81. I am suggesting a trigger to buy puts at $147.45. If triggered our first target to take profits is at $138.00.
I am suggesting the March $140 puts.
BUY PUT MAR 140 GS1020O140 open interest=4816 current ask $3.65
Entry on February xx at $ xx.xx <-- TRIGGER @ 147.45
Change since picked: + 0.00
Earnings Date 04/13/10 (unconfirmed)
Average Daily Volume = 17 million
Listed on February 00, 2010