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 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.