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Goldman Sachs (GS) Showing Bearish Technicals With Resistance At $259.82

Jan 03, 2018 ( via COMTEX) --'s patented algorithms have identified an attractive covered-call trade on Goldman Sachs (<a href="">GS</a>). Look at the Feb 16, 2018 $255 covered call for a net debit in the $247.46 area.<br /> <br /> This trade has a duration of 44 days. The break-even point of this trade is the same as the net debit, which gives this trade 3.20% downside protection. If the stock closes at or above $255 at expiration this trade will return 3.04% or 25.24% annually (for comparison purposes only). <br /> <br /> If you're interested in a lower-cost hedged trade on Goldman Sachs, consider buying the Jan 18, 2019 $130 call and selling the Feb 16, 2018 $255 call for a net debit of $119.70. A<br /> <br /> This hedged trade uses a longer-term bought call instead of the long stock position in a traditional covered call. The hedged trade lasts 44 days and would provide 2.33% downside protection. If Goldman Sachs is at or above $255 when the market closes in Feb 16, 2018, this trade will make a full return of 4.42% of the initial capital at risk for an annualized return rate of 36.73% (for comparison purposes only).<br /> <br /> GS closed Jan 2, 2018's trading session at $255.66. In the past year, the stock has hit a 52-week low of $209.62 and 52-week high of $262.14. Goldman Sachs stock has been showing support around $251.84 and resistance in the $259.82 range. Technical indicators for the stock are bearish and S&P gives GS 3 STARS (out of 5) hold ranking.

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