Energy

Transocean Ltd. (RIG) options and signal

Figures as of 28 Sep 2026

RIG is Transocean Ltd., an Energy name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
IV rank	46 of 100	28 Sep
At the money IV	50.7%	28 Sep
Priced move to 30 Oct	14.4% down, 15.5% up	28 Sep
Call wall and put wall	7 and 5.5	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	5.28	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

RIG's IV rank is 46 of 100 on 28 Sep 2026.

Figure	Value
IV rank	46 of 100
At the money IV	50.7%, near month, 32 days
Put/call ratio, open interest	0.87
Call open interest, strikes captured near the price	402,000 contracts
Put open interest, strikes captured near the price	349,000 contracts
Cost to trade at the money	Fair, 28.6% of the option's mid price

IV rank is where the at the money IV sits among RIG's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, RIG options priced a move of 14.4 percent down and 15.5 percent up by 30 Oct 2026.

Expiry	Days	Down	Up	Range
2 Oct 2026	4	6.2%	6.2%	4.95 to 5.61
9 Oct 2026	11	9.1%	9.5%	4.80 to 5.78
23 Oct 2026	25	12.3%	15.9%	4.63 to 6.12
30 Oct 2026	32	14.4%	15.5%	4.52 to 6.10
18 Dec 2026	81	23.1%	25.2%	4.06 to 6.61
15 Jan 2027	109	27.3%	29.0%	3.84 to 6.81
19 Mar 2027	172	34.3%	35.6%	3.47 to 7.16

The range is one standard deviation either side of the close of 5.28, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, RIG's call wall is the 7 strike and its put wall is the 5.5 strike.

Figure	Value
Call wall, most open call gamma	7
Put wall, most open put gamma	5.5
Flip strike, where net gamma changes sign	5.9
Net dollar gamma, calls minus puts	minus $110,875
Total dollar gamma, both sides	$4.12 million
Close	5.28

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, RIG's at the money IV is 50.7 percent against 20 day realized volatility of 52.8 percent.

Figure	Value
At the money IV	50.7%
Realized volatility, 20 trading days	52.8%
Realized volatility, 60 trading days	45.4%
IV against its own weekly record	In the middle
Weekly readings on record	847, from 8 Jan 2010
Weeks the price moved more than the one week priced move	20.1% of 234 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, RIG's at the money IV runs from 59.4 percent at 4 days to 51.1 percent at 172 days.

Days to expiry	At the money IV
4	59.4%
11	53.7%
18	53.4%
25	54.8%
53	50.9%
81	51.5%
109	51.6%
172	51.1%

Near expiries price more volatility than far ones, an inverted term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, RIG's surface spans 10 expiries out to 172 days, with IV from 48.6 to 58.2 percent near the price.

Figure	Value
Expiries captured	10
Nearest expiry	2 Oct 2026, 4 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	16
Lowest IV among them	48.6%
Highest IV among them	58.2%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, RIG has 10 captured expiries, from 2 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
2 Oct 2026	4	59.4%	1,856	2,147
9 Oct 2026	11	53.7%	1,622	2,313
16 Oct 2026	18	53.4%	10,762	4,625
23 Oct 2026	25	54.8%	3,401	747
30 Oct 2026	32	50.7%	882	294
20 Nov 2026	53	50.9%	42,136	13,974
18 Dec 2026	81	51.5%	89,810	74,779
15 Jan 2027	109	51.6%	208,650	238,132
19 Feb 2027	144	52.4%	22,288	3,486
19 Mar 2027	172	51.1%	20,266	8,411

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, RIG's largest open interest sits at the 7 strike, with 286,705 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
7	195,425	91,280	286,705
5	42,503	54,568	97,071
4	10,048	85,064	95,112
5.5	17,513	68,581	86,094
6	31,760	18,649	50,409
10	43,500	22	43,522

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, RIG's at the money IV moved from 53.0 percent to 50.7 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	53.0%	50.7%	-2.3 points
Open interest, strikes captured near the price	795,810	750,581	-45,229
Put/call ratio, open interest	0.78	0.87	+0.09

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 15,268 RIG option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	8,758
Puts traded	6,510
Against its recent average	1.0 times
Busier than	5 of its last 20 trading days
Open interest, whole chain	895,274 contracts
Volume to open interest	0.02
Unusual volume flag	Yes, 1 contract traded well above open interest
Largest flagged contract	The 6.5 call expiring 30 Oct, 1,975 traded against 118 open

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of RIG's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	5.81	minus $658,578	6	5.5
21 Sep 2026	5.45	minus $475,102	5	5.5
28 Sep 2026	5.28	minus $110,875	7	5.5

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of RIG was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	5.35, the swing high of 22 Sep 2026
Level below the close	4.80, the swing low of 1 Jul 2026
Strategy family	Long straddle (buy a call and a put at the same strike)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 RIG sat at the 43rd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	87 of 100	Bullish
20 trading days	37 of 100	Neutral
45 trading days	43 of 100	Neutral

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026 RIG's near timeframes were bullish and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bullish	1 of 2
Long	45 day	Neutral	0 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Signal History

On 25 Sep 2026 RIG had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	43 of 100
24 Sep 2026	None	18 of 100
23 Sep 2026	None	20 of 100
22 Sep 2026	None	39 of 100
21 Sep 2026	None	32 of 100
18 Sep 2026	None	26 of 100
17 Sep 2026	None	36 of 100
16 Sep 2026	None	55 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Sector Split

On 25 Sep 2026, 17 of 56 Energy names were bullish and 33 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Energy	56	17	33	6

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Price Chart

RIG closed at 5.28 on 28 Sep 2026.

Figure	Value
Last close	5.28
Change over 5 trading days	-3.1%
Change over 21 trading days	-8.0%
Change over 63 trading days	+4.8%
Change over 252 trading days	+67.1%
52 week high	7.66
52 week low	3.03
20 day moving average	5.67
50 day moving average	5.56
200 day moving average	5.66
RSI, 14 days	40

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

RIG reports next on 28 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 5 Aug 2026	+0.4%
Move after the report of 30 Apr 2026	+0.3%
Move after the report of 28 Jan 2026	+1.0%
Move after the report of 28 Apr 2025	-4.8%

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Company Events

RIG filed 1 current report in the 14 days to 28 Sep 2026, the latest on 15 Sep 2026.

Filed	Report	What it covers
15 Sep 2026	Current report	Regulation FD Disclosure

Filings as of 28 Sep 2026. Current on every plan.

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Seasonality

In the 23 Septembers on record, RIG's average change was minus 0.2 percent, and it rose in 52.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.2%	+0.4%	52.2%	23
October	+0.5%	-1.5%	39.1%	23
November	+8.0%	+1.6%	63.6%	22

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Questions

What is RIG's IV rank?: RIG's IV rank is 46 of 100 on 28 Sep 2026.
What move are RIG options pricing?: On 28 Sep 2026, RIG options priced a move of 14.4 percent down and 15.5 percent up by 30 Oct 2026.
Where are RIG's call wall and put wall?: On 28 Sep 2026, RIG's call wall is the 7 strike and its put wall is the 5.5 strike.
What was the desk's latest view of RIG on the Free plan?: On 25 Sep 2026 the desk's view of RIG was neutral, paper trading.
When does RIG report earnings next?: RIG reports next on 28 Oct 2026, a date worked out from past quarters.

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