High-rolling investors have positioned themselves bearish on Transocean RIG, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in RIG often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 13 options trades for Transocean. This is not a typical pattern.
The sentiment among these major traders is split, with 38% bullish and 61% bearish. Among all the options we identified, there was one put, amounting to $33,000, and 12 calls, totaling $1,115,647.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $7.0 for Transocean over the recent three months.
Insights into Volume & Open Interest
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 $5.0 to $7.0, over the past month.
Transocean 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIG | CALL | TRADE | BULLISH | 01/17/25 | $5.00 | $501.0K | 28.1K | 6.2K |
| RIG | CALL | SWEEP | BEARISH | 02/16/24 | $6.00 | $107.5K | 843 | 4.3K |
| RIG | CALL | SWEEP | BEARISH | 01/17/25 | $5.00 | $100.4K | 28.1K | 2.8K |
| RIG | CALL | SWEEP | BEARISH | 01/17/25 | $5.00 | $91.1K | 28.1K | 457 |
| RIG | CALL | SWEEP | BULLISH | 02/16/24 | $6.00 | $80.2K | 843 | 5.3K |
About Transocean
Transocean Ltd. is a 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.
Following our analysis of the options activities associated with Transocean, we pivot to a closer look at the company's own performance.
Transocean's Current Market Status
- With a volume of 15,443,380, the price of RIG is up 1.38% at $5.82.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Transocean
1 market experts have recently issued ratings for this stock, with a consensus target price of $8.0.
- An analyst from Capital One has revised its rating downward to Overweight, adjusting the price target to $8.
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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