Transocean sees surge in institutional holdings and put option activity

Traders bought 41,673 put options on Transocean Ltd. (NYSE:RIG), a rise of about 53% over the typical daily volume of 27,307 contracts. The heightened options activity coincided with a wave of purchases by large institutional investors.

Vanguard Group Inc. increased its stake by 2.6% to 97,006,263 shares, while State Street Corp added 13.1% to own 24,725,897 shares. Morgan Stanley lifted its holding by 9.4% to 24,790,325 shares, and Goldman Sachs Group Inc. expanded its position by 88.9% to 12,151,817 shares. First Trust Advisors LP also raised its stake, acquiring an additional 928,196 shares for a total of 958,406 shares. Overall, institutional investors now own roughly 67.7% of Transocean’s outstanding stock.