The Options Insider

Line in the Sand Puts Trade in RIG

by | Nov 15, 2016 | Unusual Activity

8415 RIG Dec09 9.5 puts went up in 1 block on the PHLX.? The trade is either selling puts to close or adding more trying to ride RIG higher.?

unusual options activity, RIG

Shares of Transocean ltd (RIG) are up .21 to 10.84 today.? RIG is near the middle of the 52 week range.

  • Paper traded 8415 RIG Dec09 9.5 puts at .40.?
  • The ADV is 26713. ??
  • The OI is over 14514 contracts.

The volume went up in 1 block on the PHLX.? The trade is either selling puts to close or adding more trying to ride RIG higher.? If selling to close, they are giving up on the short position for the time being.? If the they are ?line in the sand puts? the OI should be over 20k tomorrow.

  • IV 30 is trading for 55%.
  • HV10 is trading for 44%.?
  • IV 30 is below the HV 10.

Transocean Ltd. is an international provider of offshore contract drilling services for oil and gas wells. The Company’s primary business is to contract its drilling rigs, related equipment and work crews primarily on a day rate basis to drill oil and gas wells.