Some Goldman partners may be struggling, but there is also reason for employees of the firm to celebrate.
Since it scraped $52 on November 20th, Goldman's stock has made a comeback.
Yesterday it closed at $99.3, having risen to a high of $106 on Wednesday and recovered 18% since the beginning of the year.
Whether this means that the options Goldman issued in 2008 are now in the money isn't clear - it has yet to make public the strike price.
Unfortunately, options issued in previous years are still underwater, but the surface isn't completely out of sight. The weighted average excise price for all GS options outstanding at November 2008 was $104.97. A little more in the way of good news and Goldman partners might even feel wealthy again.