Can’t Keep a ‘Gold’man Down

By Sang Lucci Uncategorized

By Sang Lucci

Banks have been in play lately, with bets being taken on a December rate hike and buyers scrambling for any other sectors to continue propping this market up at any cost necessary. Even as we speak on a day where the S&P is down 10 handles, Goldman finds itself squarely in positive territory.

This particular trader though bought a grip of Goldman Sachs calls during the uncertainty concerning Deutsche Bank and the news filled mornings of its inevitable bankruptcy. This was only earlier this week. Also, let’s not leave out the fact that DB is trading well back above those $11 panic levels.

The flow hit end of day on October 4th and came in right on a dip where stock traded up to $164 but closed closer to $162. Trader bought a million dollars worth of November $170 Calls for around $2.4.

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Fast forward back to today, Goldman is trading very close to $170 and this million dollar call buyer timed the trade perfectly. I must mention that at the time of the trade, many buyers also aggressively picked up weekly calls on Bank of America to add to the mounting desire of a bank rally into Friday Jobs numbers.

So let’s see how the trader is doing now shall we?

So why you not in the Steamroom again?

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About the Author

Sang Lucci

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Anand Sanghvi, aka "Lucci", is the founder and head trader at Sanglucci.com. Anand has successfully traded equities and options since 2006, beginning his career as a proprietary trader at PTG Capital. Anand was named head trader utilizing tape reading and options to make his plays. Anand left in 2009 to manage his own money and infamously turned $50,000 into over $2,400,000. He soon founded Sanglucci.com.

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