Transocean (RIG) - Market Recap

Posted on 10/18/2012 by Jane Lacave

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NEW YORK (AVAFIN) -- Unusual volume of call and put contracts exchanged hands during the last trading session between buyers and sellers for Transocean shares. A total of 21,210 call and 19,801 put contracts were traded raising a 0.93 put/call ratio.

Unusual volume provides reliable clues that the stock is expected to make a move. Investors can use the put/call ratio statistics to measure trader sentiment. A high put/call ratio suggests that the overall investment sentiment is bearish and that investors expect the underlying stock to decrease in value. Conversely, a low put/call ratio implies that investor sentiment is bullish based on the large amount of call options.

Transocean has hinted at spinning off its commodity jackups into a separate company possibly in the second half of 2013. This move would improve the overall quality of Transocean's fleet. Additionaly, The deepwater market is positioned to expand substantially in the coming years because of large discoveries, and Transocean has positioned itself as the prime beneficiary.

Shares of Transocean edged up $1.05 (+2.22%) to $48.35. The price of the stock ranged between a low of $47.48 and $48.68 respectively. The trading volume of 5M is above the 90 day average volume of 3M shares. RIG is trading above the 50 day moving average. The stock's 52 week low is $38.21 and 52 week high is $60.09. Performance indicators show that the stock has gained 4.76% within the last month.


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