$GS Trade Idea - Bank Stress Test
With the Bank Stress Test showing positive results, here's a possible trade gameplan for GS into qEnd provided conditions are met and we have a bullish reaction to GDP + Unemployment numbers in pre-market tomorrow.
The path on the 15 min chart looks messy since that's the lowest resolution I can publish, so I've included a 5 min version in the screenshot below.
Ideal Gameplan:
1. Price opens above risky area shown on chart and holds above the orange rectangle on the pullback
2. Long 6/30 325C or 327.5C
3. Can cut some at 10 am if you wish, or hold for the push into 11:30
4. On the first decent pullback after 10 am, grab some 330C "lottos" if you've scaled out Cost Basis from the initial call position
5. By 11:30, price should've made an HH that will only be exceeded near the EOD or on Friday morning (can trim most/all of 330C here if you want)
6. If above conditions are met and price continues to base above $327.50-328 during the afternoon session, can look to re-enter 330C for the late-day push, holding final runners for Friday, but keep in mind there will be theta burn overnight
Note:
If price opens in the orange box shown, or enters orange box during the initial pullback after open, it's best to wait until the orange box is safely cleared, as there is a chance we backtest the afterhours PA under $320
The path on the 15 min chart looks messy since that's the lowest resolution I can publish, so I've included a 5 min version in the screenshot below.
Ideal Gameplan:
1. Price opens above risky area shown on chart and holds above the orange rectangle on the pullback
2. Long 6/30 325C or 327.5C
3. Can cut some at 10 am if you wish, or hold for the push into 11:30
4. On the first decent pullback after 10 am, grab some 330C "lottos" if you've scaled out Cost Basis from the initial call position
5. By 11:30, price should've made an HH that will only be exceeded near the EOD or on Friday morning (can trim most/all of 330C here if you want)
6. If above conditions are met and price continues to base above $327.50-328 during the afternoon session, can look to re-enter 330C for the late-day push, holding final runners for Friday, but keep in mind there will be theta burn overnight
Note:
If price opens in the orange box shown, or enters orange box during the initial pullback after open, it's best to wait until the orange box is safely cleared, as there is a chance we backtest the afterhours PA under $320
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