Mixed options sentiment in Transocean (RIG), with shares up 18c, or 2.9%, near $6.58. Options volume relatively light with 15k contracts traded and calls leading puts for a put/call ratio of 0.12, compared to a typical level near 0.34. Implied volatility (IV30) dropped 1.79 near 61.95,and below the 52wk median, suggesting an expected daily move of $0.26. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Equal Weight at Barclays.
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