Check Out What Whales Are Doing With RIG

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

Options Call Chart

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.

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Posted In: OptionsMarketsBZI-UOA
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