Transocean Options Volume Hits New Highs

Option volume hit an annual high today as RIG rallied

Apr 13, 2018 at 2:54 PM
facebook X logo linkedin


Offshore driller Transocean Ltd. (NYSE:RIG) has attracted the attention of options traders today, as the stock gains 4.5% to trade at $11.60. In fact, RIG option volume has already surged to an annual high of 89,497 contracts, per Trade-Alert, with put volume of 51,843 contracts representing about seven times the intraday norm.

The most active strike is RIG's May 8 put, where 20,725 contracts have traded -- primarily at the ask price, suggesting they were bought. Most of the action at this out-of-the-money put strike can be traced back to a sweep of 13,725 contracts that changed hands at the ask price of $0.03 shortly after midday.

Amid the increased attention from traders, implied volatility on the May 8 put option has ramped up 7.2 percentage points to 67.6%. For what it's worth, RIG's 30-day historical volatility currently stands at an annual high of 52.8%.

RIG has rallied more than 19% this week amid a broader-based surge in oil prices as the Syria conflict moves back to the geopolitical forefront. The stock's big run higher has RIG trading up 8.6% on a year-to-date basis, but the shares peaked today at $11.74 -- just shy of their year-over-year breakeven level.

 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI