A whale with a lot of money to spend has taken a noticeably bearish stance on Transocean.
Looking at options history for Transocean RIG we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $127,872 and 10, calls, for a total amount of $585,333.
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 $5.0 to $7.0 for Transocean over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Transocean options trades today is 19786.5 with a total volume of 14,489.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Transocean's big money trades within a strike price range of $5.0 to $7.0 over the last 30 days.
Transocean Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIG | CALL | TRADE | NEUTRAL | 08/18/23 | $7.00 | $119.6K | 16.4K | 4.4K |
| RIG | CALL | TRADE | NEUTRAL | 01/19/24 | $5.00 | $105.0K | 79.3K | 1.0K |
| RIG | CALL | TRADE | BEARISH | 06/16/23 | $6.00 | $78.4K | 7.5K | 1.6K |
| RIG | PUT | SWEEP | BEARISH | 01/19/24 | $5.50 | $54.0K | 11.1K | 696 |
| RIG | CALL | SWEEP | BULLISH | 01/17/25 | $5.50 | $51.8K | 3.4K | 360 |
Where Is Transocean Standing Right Now?
- With a volume of 12,408,560, the price of RIG is up 7.42% at $6.58.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 59 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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