While major U.S. stock indexes reach new highs, options data suggests traders see the market as vulnerable to a big drop should bears gain the upper hand, according to strategists at Goldman Sachs. Apparent calm in the stock market masks heightened expectations for big stock market gyrations over the next three months, Goldman strategists said in a note on Friday. One indication of how anxious investors are is the fact that the 3-month downside implied volatility skew, which compares put option prices with at-the-money option prices, has reached new all-time highs, the note said. “High skew reflects investors’ ... (full story)