Steve Sosnick's Goldman Sachs Trade

Steve Sosnick, the chief options strategist at Interactive Brokers, shared with the viewers of Bloomberg Markets an options strategy in Goldman Sachs Group Inc (NYSE: GS).

He wants to sell the June 215 put and buy the July 215 put for a total cost of $2.80. For the trade to become profitable, Goldman Sachs has to close above $215 at the June expiration and then it has to drop below $212.20 at the July expiration.