By Pete Najarian, co-founder of OptionMonsterNEW YORK -- Transocean ( RIG) is attracting upside option activity as the offshore driller tries to break out of a tight range. More than 2,700 January 49 calls traded in a strong buying pattern Wednesday, led by a print of 1,925 that went for 48 cents, according to OptionMonster's real-time tracking systems. The volume was six times higher than the strike's open interest of 433 contracts at the beginning of the day, indicating that these were new purchases. The calls, which lock in the price where traders can buy the stock, are looking for Transocean to gain roughly 7% by expiration on Jan. 18. The oil and gas exploration company is scheduled to report results for the fourth quarter and all of 2012 on Feb. 24. The stock was down fractionally Wednesday to close at $46.41. Shares have been trapped between $45 and $50 since July, and they are now sitting just above their 50-day moving average. Total option volume in the name was more than double its daily average in the last month. Calls outnumbered puts by more than 2.5 to 1. Najarian has no positions in RIG.