Tim Biggam's Goldman Sachs Options Trade

Tim Biggam of Delta Derivatives spoke on Bloomberg Markets about a bearish options trade in Goldman Sachs Group Inc GS. He sees a potential weakness in the financial sector after the last FOMC meeting and he wants to use options to make a bearish trade.

Specifically, he wants to sell the June 210 calls and buy the June 215 calls for a net credit of $1. Biggam is going to collect the premium if the stock stays below $210 at the June expiration. The trade starts to lose money above $211 and it can maximally lose $4.