GS is looking bearish. Key support area seems $225 followed by $220. If those two are taken out, $210 will another area to watch out. I am tempted to get in below $225 as the volume today is high and there are few more hours to go. It may be pinned around 220 tomorrow so interesting stuff will happen from Monday. In any case, an opportunity worth looking at.
Needless to say, no naked. This is a directional speculative trade, and I always prefer hedged and hence even if I open a bearish spread, that’s going to be via spread.
Discuss it here at the forum.
Profitable trading, OptionPundit
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