Transocean Whale Trades For June 16

Someone with a lot of money to spend has taken a bullish stance on Transocean RIG.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with RIG, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 11 options trades for Transocean.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $165,000, and 10, calls, for a total amount of $567,919..

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.0 to $5.0 for Transocean over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Transocean's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Transocean's whale activity within a strike price range from $2.0 to $5.0 in the last 30 days.

Transocean Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
RIG PUT TRADE BEARISH 01/20/23 $2.50 $165.0K 4.8K 5.1K
RIG CALL TRADE BULLISH 01/19/24 $2.00 $110.5K 2.9K 2.0K
RIG CALL TRADE NEUTRAL 01/19/24 $2.00 $110.0K 2.9K 518
RIG CALL TRADE BULLISH 01/19/24 $2.00 $107.5K 2.9K 1.5K
RIG CALL TRADE BEARISH 08/19/22 $3.00 $46.4K 2.0K 49

Where Is Transocean Standing Right Now?

  • With a volume of 28,251,007, the price of RIG is down -7.03% at $3.63.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 46 days.

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.

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Posted In: OptionsMarketsBZI-UOA
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