TNT Social Posts
Price Breaks Provide Option Profits in $GS
In our TNT Options Trading Service on March 4th, we talked about Goldman Sachs (GS). After watching the trend and the major indices, specifically the Dow (DJI), we suggested simple targets for $GS if it should break and make a run either above its $198.00 flat-line or below its 100-day SMA. $GS had been trading […]
In our TNT Options Trading Service on March 4th, we talked about Goldman Sachs (GS).
After watching the trend and the major indices, specifically the Dow (DJI), we suggested simple targets for $GS if it should break and make a run either above its $198.00 flat-line or below its 100-day SMA. $GS had been trading just like the DJI for the last couple of weeks floating sideways on the $198.00 flat-line, and looked like it had some pent up energy to make a move.
On March 5th, the stock opened both below its 100-day SMA and its $198.00 flat-line and a quick put trade brought opportunity to roll the position at our first level of support, the $191.05 flat-line. GS shares would bounce from that level as a respect of support, and trade back higher to nearly unchanged by the close, although still below both the $198 area and the 100-day SMA. By Thursday, March 7th, the stock had almost made its way to the 50-day SMA and wound up bouncing strongly with the rest of the market Friday morning, immediately off of that level and ran straight to close the week on its 100-day SMA. Shares of Goldman Sachs offered profits to option traders both to the upside and the downside throughout the week, as it found both support and resistance, using flat-lines!
Subscribers took advantage of these opportunities and were able to profit anywhere from 40% to 100% in both directions using discipline and a strategy involving their flat-lines.