Goldman Sachs Bottomed Out? (GS)

Shares of Goldman Sachs Group GS are lower on the session by 0.79%, currently trading $142.90. The stock has been grinding along around the $140 handle as of late. The stock looks like it wants to run higher, but runs into resistance around the $144-146 handles each time. Traders are selling puts in the name today. Right at the opening bell, nearly 4,000 June $135 puts were sold on the bid in several lots. Open interest on the strike is 20,150 contracts, which suggests that traders were taking profits on their long put positions today. This suggests that traders believe the stock is in fact bottomed. The Goldman Sachs Group, Inc. is a bank holding and a global investment banking, securities and investment management company.