TopOptionAlert
$GS NOV20 900C · still actionable
Zone: $869 to $881
Invalidation: close under $859.03
Objectives: $909.87, then $931
The math: up 4.0% to the first objective and 6.4% to the second, against 1.8% risk on the invalidation, better than 3 to 1 to the second
Dear friend, think of this swing setup like a strong house that passed its inspection last week and then got marked down because the whole street felt nervous. Goldman earned 17.01 dollars a share on October 13 when folks expected far less, yet price still slid to 859.03 dollars on October 15 and today it holds near 875 dollars above that low. What that means is simple. The floor has been tested more than once and it still holds, so the room back toward 909.87 dollars first and 931 dollars next is the same road price walked earlier this month, while a close under 859.03 dollars would tell you the floor finally gave way.
P.S. Goldman does not report again until January 19, so this trade has a quiet calendar ahead of it and price levels are the whole story for now.
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