We're buying to open the Transocean Limited (NYSE: RIG) Jan. 24, 2020, $7 call up to $0.42 per contract or better, for the day.

We're seeing a bullish buy now signal due to a surge of in call options purchased in the Jan. 24, 2020, $7 call strike with purchasing over $650,000 in options premium thus far.

Hot Money only profits if prices will soar higher in the next 25 days.

Here's what we're doing...

Action to Take:

• In your brokerage account, locate the RIG Jan. 24, 2020, $7 call:
• The symbol is RIG200124C00007000.
• Search for options under the stock ticker: RIG.
• Make sure you choose the right options expiration (expiring on Jan. 24, 2020).
• Choose the $7 strike price.
• Select "calls" options. Select how many contracts to buy.
• Once you have the right contract, click "buy to open."
• Choose "limit order." (This sets the max price you'll pay per contract).
• Use a limit of $0.42 per contract.
• Click "Day" for TIF (Time In Force).
• Then click "buy" to transmit the order.

You can also call your broker and say, "I want to buy to open RIG Jan. 24, 2020, $7 call with a $0.42 limit or better; for the day."

Giddy up!