Rocketship GS

Goldmansach has shot up quite a bit this week. It was around 180 earlier this week and then now its 192. From a candlestick aspect an anbandoned baby pattern is starting to form. Meaning that if mondays price gaps lower and stay lower its a bearish situtation. However if it continues to trend higher than I will need to adjust my position inorder to stay with this earning play. So far i'm down $94 on a $950 risk.



Existing postition




With 195 put calendar if price continues to rise

GS earnings calendar

Goldmansachs is having earnings June 2. So it a good candidate for a calendar spread. The June 2 earnings event will increase the June contracts while allowing the May contracts to decay quickly.

BTO May/June 180 Put for $4.55
Risk to reward will be 1:1
Breakeven are $170 and $191