Market Whales and Their Recent Bets on Goldman Sachs Gr Options
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards Goldman Sachs Gr (NYSE:GS), with a notable shift in options trading activity. Benzinga's tracking revealed 17 extraordinary options activities, with a bearish majority of 64% and bullish minority of 35%. The trading activity suggests a target price range of $290.0 to $400.0 for GS over the next three months. The current market price of GS is $392.82, with an indication of approaching overbought territory. The next earnings report is expected in 41 days.
March 06, 2024 | 5:01 pm
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NEGATIVE IMPACT
Significant bearish sentiment and unusual options activity have been observed among large investors in Goldman Sachs, with a price target range of $290-$400 over the next three months.
The bearish sentiment among large investors, indicated by the options trading activity, suggests a potential downward pressure on GS stock in the short term. The significant amount of bearish options, coupled with the current price nearing overbought territory, supports the likelihood of a price correction. However, the presence of bullish investors and the company's strong market position introduce some uncertainty, hence the confidence level is not at the maximum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100