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Apollo_CB
Jan 4, 2024 5:50 PM

Rig consolidates on Fib as Oil corrects Long

Transocean Ltd (Switzerland)NYSE

Description

Oil is likely to be a huge player this year, the year after a tech run, value and certain commodities are likely to run. Rig has been on a major upswing since 2021. The stock meanders between two fib levels and has heavily consolidated here (.382). A colleague of mine pointed out Jan 2025 7$ calls and the open interest is huge. This more volatile play than XOM CVX OXY could provide massive leverage for a bet on oil prices increasing. Another run to the more important golden fib would make the calls very lucrative.
Comments
kli770813
Long Rig $ 8,88 Tajvan turbó bumm
kozi723
What is your target for 2024 in RIG? Hopefully the next ER will be much better then 2023.
Apollo_CB
@kozi723 8-10$ if oil pumps
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