Goldman Sachs (GS) NewsBite - Goldman Sachs to Invest in ISTC

Goldman Sachs Group Inc. (GS) opened at 232.65. So far today, the stock has hit a low of 228.25 and a high of 234.22. GS is now trading at 228.29, up 3.91 (1.68%). The stock hit its 52 week high of 250.70 in October and set its 52 week low of 157.38 in August. GS fell between June and August, but has been moving sideways recently. Goldman Sachs shares have been rallying today on news that the company and several other investment banks are interested in investing in Irish specialist lender International Securities Trading Corp (ISTC). According to the Irish Times newspaper, ISTC had debts of 871 million euros due to the crisis in the structured investment vehicle market. Technical indicators for the stock are bullish but deteriorating while S&P gives GS a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged trade on this stock, consider a December bull-put credit spread below the $195 level. GS stock could fall up to 14.6% before expiration and this position would still be profitable.