Goldman Sachs Options Traders Load Up on Calls as Stock Clings to Key Support

Goldman Sachs drew $1.6 million in call premium against $559,000 in puts by 9:57 AM ET on Nov 13, a 74% call share that signals early options money is betting on continued upside. The data comes from GTA Terminal, whose TradingView note tracked the flow alongside the stock's technical position.

The put/call volume ratio sat at 0.47, built on 915 calls versus 434 puts. Open interest put/call stood at 0.92. The busiest expiration was Mar 17, 2028, which alone carried $1.5 million in premium, 79% of it in calls.

What are the biggest contracts telling us?

Three listed trades dominated the tape. Each one pins a specific price on a specific date, which makes them useful markers for where large traders see the stock heading.

• $1505 Call, Mar 17 2028: volume 69 against 476 open interest, $131,000 in premium
• $1105 Put, Mar 17 2028: volume 5 against 25 open interest, $115,000 in premium
• $500 Call, Jun 17 2027: volume 2 against 110 open interest, $85,000 in premium

The $1505 call is the standout. It sits roughly 65% above the current price, so the buyer is paying for time and for a long runway, not for a quick pop. The $1105 put, meanwhile, works as insurance far below the market. The mix leans speculative rather than hedged.

Where is the stock trading?

Goldman Sachs traded near 907, just above its 20-day simple moving average at 900.40. That average is the near-term support line. The stock sits below the 50-day at 921.73, the 200-day at 955.74 and the 100-day at 982.98, so the longer trend still points down.

The recent path explains the setup. Shares bounced from 854.45 on Nov 5, a 60-day low, up to 932.48 on Nov 11, then slipped back. RSI 14 reads near 50, a neutral level that shows no momentum in either direction. The stock also remains far below its 60-day high of 1,063.52.

GTA Terminal laid out four levels that frame the trade:

• 939.38 — the 20-day high and upper resistance
• 921.73 — the 50-day SMA, acting as resistance
• 900.40 — the 20-day SMA, acting as support
• 854.45 — the Nov 5 low and 60-day low, the invalidation point

Why does dark pool activity matter?

Off-exchange trading volume has climbed four sessions in a row. GTA Terminal recorded dark pool share at 27.8% on Nov 6, 28.6% on Nov 9, 29.1% on Nov 10, 34.1% on Nov 11 and 35.2% on Nov 12, when 543,832 shares traded off exchange. The normal share runs at 32.1%.

Rising dark pool participation often reflects institutions building or adjusting positions away from public lit exchanges. A four-day climb into the mid-30s, paired with call-heavy options flow, suggests larger players have grown more active in the name right as price tests a decision point between the 20-day and 50-day averages.

What confirms the bounce from here?

GTA Terminal set two conditions worth watching. A daily close above the 50-day SMA at 921.73, with calls still leading the flow, would confirm the bounce. A close under the 20-day at 900.40 would put the 854.45 low back in focus.

The combination matters more than either signal alone. Calls at 74% of premium and dark pool share at 35.2% show positioning for upside, but the price remains trapped below three major moving averages, and a break of 900.40 would flip the technical picture back toward the November lows. GTA Terminal notes the data is not financial advice.