Calls Sold on Transocean (RIG)

Shares of Transocean LTD RIG are lower on the session by 4.19%, currently trading $57.21. The stock has been in the crosshairs as of late, plummeting from a recent high of $90. The stock is trading firmly below the 50-day and 200-day moving averages. Calls are being sold on the front month contracts today, suggesting that a rally may not be in the cards. The $50, $60 & $65 strikes have all seen significant selling on the bid. Some of this has been positioning closing, others have been covered call sales. Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. As of February 2, 2010, the Company owned, had partial ownership interests in, or operated 138 mobile offshore drilling units.