TD Ameritrade Chief Strategist JJ Kinahan discussed Transocean LTD RIG ahead of its Q4 earnings report.
Based on implied volatility in the options market, Kinahan told Benzinga that a move of more than 5 percent (up or down) was expected after the earnings announcement.
The stock was also down more than 40 percent since its last earnings release, much of which had to do with crude oil prices, according to Kinahan.
From the perspective of historical volatility, Kinahan found it of interest that the stock is “at its 100th percentile.”
Heading into its earnings report, Transocean LTD traded at $16.08, up 0.82 percent.
Kevin Riley and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.