Goldman Sachs: Hedge Biotech Stocks Now – Stocks to Watch …

By Steve SearsGoldman Sachs is telling clients to hedge the bio-technology sector in anticipation of a sharp decline. Early Monday, the bank told clients to buy SPDR S&P Biotech ETF (XBI) December $230 puts. During the pre-market, the ETF was priced at $255, and the put was at $15.50.
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“These puts are about 10% out-of-the-money and cost about […]