Financial giants have made a conspicuous bullish move on Transocean. Our analysis of options history for Transocean RIG revealed 9 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $318,057, and 3 were calls, valued at $198,376.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2.0 to $5.0 for Transocean over the recent three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Transocean's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Transocean's significant trades, within a strike price range of $2.0 to $5.0, over the past month.
Transocean Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIG | CALL | SWEEP | BULLISH | 03/28/24 | $5.00 | $132.2K | 709 | 2.0K |
| RIG | PUT | SWEEP | BEARISH | 01/17/25 | $5.00 | $78.2K | 25.6K | 1.2K |
| RIG | PUT | SWEEP | BULLISH | 01/17/25 | $4.00 | $55.2K | 882 | 6.7K |
| RIG | PUT | SWEEP | BULLISH | 01/17/25 | $4.00 | $55.1K | 882 | 3.6K |
| RIG | PUT | SWEEP | BULLISH | 01/17/25 | $4.00 | $55.1K | 882 | 5.1K |
About Transocean
Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. Its segment involves contracting mobile offshore drilling rigs, related equipment, and work crews to drill oil and gas wells.
Having examined the options trading patterns of Transocean, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Transocean
- Currently trading with a volume of 12,437,138, the RIG's price is down by -1.1%, now at $5.37.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 48 days.
What Analysts Are Saying About Transocean
5 market experts have recently issued ratings for this stock, with a consensus target price of $6.3.
- An analyst from Piper Sandler has decided to maintain their Neutral rating on Transocean, which currently sits at a price target of $6.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Transocean with a target price of $6.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Neutral rating for Transocean, targeting a price of $5.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Transocean with a target price of $7.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Transocean, maintaining a target price of $7.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Transocean, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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