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 23% bullish and 76% bearish. Among all the options we identified, there was one put, amounting to $325,250, and 12 calls, totaling $676,052.
Expected Price Movements
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 $6.0 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 22746.25 with a total volume of 26,771.00.
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 $6.0 over the last 30 days.
Transocean Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| RIG | PUT | SWEEP | BULLISH | 05/17/24 | $6.00 | $325.2K | 37.4K | 2.5K |
| RIG | CALL | SWEEP | BEARISH | 12/19/25 | $5.00 | $109.0K | 38.8K | 4.2K |
| RIG | CALL | SWEEP | BEARISH | 12/19/25 | $5.00 | $98.4K | 38.8K | 1.7K |
| RIG | CALL | SWEEP | BULLISH | 08/16/24 | $6.00 | $74.0K | 13.3K | 4.0K |
| RIG | CALL | SWEEP | BEARISH | 12/19/25 | $5.00 | $66.1K | 38.8K | 3.9K |
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.
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
Transocean's Current Market Status
- With a volume of 3,098,089, the price of RIG is up 0.42% at $4.69.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 68 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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