Whales with a lot of money to spend have taken a noticeably bullish stance on Transocean.
Looking at options history for Transocean RIG we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 75% of the investors opened trades with bullish expectations and 12% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $154,585 and 3, calls, for a total amount of $192,416.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $4.5 to $7.0 for Transocean over the last 3 months.
Volume & Open Interest Trends
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 $4.5 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| RIG | CALL | SWEEP | BULLISH | 01/17/25 | $0.41 | $0.38 | $0.41 | $4.50 | $117.9K | 25.2K | 5.1K |
| RIG | CALL | TRADE | NEUTRAL | 01/16/26 | $0.8 | $0.76 | $0.78 | $5.00 | $39.0K | 22.9K | 502 |
| RIG | CALL | SWEEP | BEARISH | 01/17/25 | $0.45 | $0.44 | $0.44 | $4.50 | $35.5K | 25.2K | 5.9K |
| RIG | PUT | TRADE | BULLISH | 09/06/24 | $0.56 | $0.35 | $0.35 | $4.50 | $35.3K | 2.9K | 389 |
| RIG | PUT | SWEEP | BULLISH | 11/15/24 | $1.01 | $1.0 | $1.0 | $5.00 | $34.2K | 11.7K | 352 |
About Transocean
Transocean Ltd. is an 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
- Trading volume stands at 12,607,884, with RIG's price up by 1.57%, positioned at $4.21.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 53 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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