Goldman Sachs (GS) is among the bank names set to announce quarterly results to start the fourth quarter, set for release before the open on Tuesday, Oct. 15. The bank stock has a positive post-earnings history, with five of its last eight next-day sessions higher. The shares averaged a move of 2.4% over the past two years, regardless of direction, but this time the options pits are pricing in a larger-than-usual 5.5% move.
Ahead of the event, short-term options traders are extremely bullish. This is per GS’ Schaeffer’s put/call open interest ratio (SOIR) of 0.52 that ranks in the low 4th percentile of readings from the past 12 months.
Goldman Sachs stock is getting a boost ahead of the Federal Reserve’s September meeting minutes that are due out later today. The equity was last seen 1.6% higher at $504.28, as it continues to chase its July 31 all-time high of $517.26. Since that peak, two pullbacks were saved by the stock’s ascending 120-day moving average. Looking further back, GS boasts a 30.6% and 60.1% year-to-date and year-over-year lead, respectively.
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