TD Ameritrade Chief Strategist Sees 5% Move For Transocean

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.