GS straddle

Golden Goldman, Morgan : The market is giving back its gains, wilting into the close looking out to bigger data points due later in the week. Bloomberg reports that Goldman is supposed to show Q2 profit drop off of 32% while Morgan Stanley is expected to see net income fall 59% with commodities picking up the slack for the shops as other areas of business suffer. That's the good news. WSJ's Gaffen note option action in Goldman with volatility plays suggesting that regardless of their reporting there will be significant moves in the underlying With the June "$185 straddle costs $12.10, implying about a 6.7% move. The July $185 straddle costs about $18.70, implying a move of more than 10%."