Investors with a lot of money to spend have taken a bullish stance on Transocean (NYSE:RIG).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with RIG, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Transocean.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $25,000, and 7, calls, for a total amount of $334,813.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1.0 to $7.0 for Transocean during the past quarter.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Transocean's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Transocean's substantial trades, within a strike price spectrum from $1.0 to $7.0 over the preceding 30 days.
Transocean Option Volume And Open Interest Over Last 30 Days
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 | BEARISH | 01/21/28 | $1.89 | $1.82 | $1.89 | $7.00 | $94.5K | 28.3K | 811 |
| RIG | CALL | TRADE | BEARISH | 03/27/26 | $7.35 | $4.7 | $5.51 | $1.00 | $55.1K | 0 | 100 |
| RIG | CALL | TRADE | BULLISH | 12/18/26 | $0.73 | $0.3 | $0.73 | $7.00 | $54.7K | 41.4K | 1 |
| RIG | CALL | TRADE | NEUTRAL | 03/27/26 | $0.26 | $0.18 | $0.22 | $7.00 | $43.8K | 2.3K | 2.1K |
| RIG | CALL | TRADE | BULLISH | 12/18/26 | $2.09 | $2.03 | $2.09 | $5.00 | $29.8K | 24.6K | 176 |
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.
In light of the recent options history for Transocean, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Transocean
- With a volume of 38,397,812, the price of RIG is up 0.71% at $6.41.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 66 days.
Expert Opinions on Transocean
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $7.33.
- Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for Transocean, targeting a price of $6.
- Consistent in their evaluation, an analyst from BTIG keeps a Buy rating on Transocean with a target price of $10.
- Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $6.
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.
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