Fat Options Premium in Goldman Sachs

Same old story, market down a couple hundred points… It’s gotten so ridiculous that people are actually joking and laughing here at the office when they check out the market. Anyways, my goal is to try to make some $$$ regardless of how the market is acting. I played around with GE today, but only made a tiny bit off that trade. One thing I did notice was the fat options premiums on Goldman Sachs. I basically did a buy / write today on some Goldman Sachs.

Trade 1: Bought Goldman @ $84.20 and sold the October 90 calls at $11.30. I’m looking at a gain of 20% if Goldman closes at or above $90 on October 17th. If not, I keep the $11.30 per share premium.

Trade 2: Bought Goldman @ $85.37 and sold the November 95 calls @ $16.10. This time, I’m looking at a gain of 30% if Goldman closes at or above $95 on November 14th. If not, I keep the $16.10 per share premium.

Oh, also picked up some Apple this morning @ $94.72. This company has over $20 in cash per share. I see good value in Apple.