DESCRIPTION: Transocean, the world's largest offshore drilling contractor, provides the most versatile fleet of mobile offshore drilling units to help clients find and develop oil and natural gas reserves. Building on more than 50 years of experience with the highest specification rigs, the company's approximately 21,100 employees are focused on safety and premier offshore drilling performance.
Transocean, other ocean business leaders found World Ocean Council (3/29/10)
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"Shares of the international provider of offshore contract drilling services for oil and gas wells are trending higher this afternoon, keeping up with rallies enjoyed by a number of other industry players today. Transocean's shares increased as much as 5.3% during the session to secure an intraday high of $53.71. The rally attracted options players to rig up near-term and longer-term bullish positions in order to prepare for shares to extend gains going forward.
Investors eyeing upside potential through expiration day this morning picked up at least 1,000 calls at the September $55 strike at an average premium of $1.15 apiece. Traders long the calls make money if RIG's shares rally another 4.5% over today's high of $53.71 to trade above the average breakeven price of $56.16 by expiration day. Optimism spread to the January 2011 $60 strike where bulls bought roughly 1,500 calls for an average premium of $3.35 a pop. . .Finally, uber-bulls scooped up another 1,800 calls at the higher January 2011 $70 strike by shelling out an average premium of $1.26 each."
Chip Brian, SmarTrend (08/25/10)
"Below are the top-five companies in the oil & gas drilling industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform.
Transocean ranks first with a gain of 3.01%; Atwood Oceanics ranks second with a gain of 2.07%; and Pride International ranks third with a gain of 1.6%. Diamond Offshore Drilling follows with a gain of 1.24% and Helmerich & Payne rounds out the top five with a gain of 1.11%."
Andrew Wilkinson, Options Insider (08/25/10)
"Shares in offshore contract drilling services provider, Transocean bucked the trend today and rose more than 5.5% at midsession to secure an intraday high of $53.69 while hearings regarding the rig explosion of April 20 progressed before a government panel. A number of options investors initiated near-term bullish positions on the stock today, suggesting some are looking for the price of the underlying stock to rally higher ahead of September expiration. RIG's shares are currently up 3.4% at $52.60 with 15 minutes remaining in the session. Traders purchased roughly 1,200 now in-the-money calls at the September $52.5 strike for an average premium of $2.27 a pop. Investors long the September $52.5 strike calls make money as long as Transocean's shares increase another 4.125% to trade above the average breakeven price of $54.77 by expiration day. The most popular strike for individuals seeking bullish stances was the September $55 strike where at least 2,400 calls were picked up at an average premium of $1.39 each. Call buyers at this strike are poised to profit should RIG's shares jump 7.2% to exceed the effective breakeven point on the upside at $56.39. Finally, bulls scooped up nearly 2,000 calls at the higher September $57.5 strike by shelling out an average premium of $0.79 per contract. Approximately 1,000 calls were coveted at the September $60 strike where investors paid an average premium of $0.49 apiece. Options implied volatility on Transocean is up 5.8% to stand at 47.75% just 10 minutes before the close."
Ian Cooper, Energy & Capital (08/11/10)
"Transocean [could be] in the clear. And it looks like Wall Street agrees. Not only did FBR reiterate its Outperform rating with a $70 price target, buyers sent the stock up more than $10 last week alone. Better yet, the deepwater moratorium could be lifted earlier than November 30, 2010. . .if oil companies can show improvement in spill containment and response plans. That alone could rocket shares of RIG. Buy more Transocean. . .and hold long term. This is an $80 stock masquerading under $60."
Chip Brian, SmarTrend (08/11/10)
"Transocean shares are currently trading 4.91% lower at $53.69. SmarTrend is bullish on shares of Transocean and our subscribers were alerted to buy on August 03, 2010 at $50.54. The stock has risen 6.2% since the alert was issued."
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