Transocean (RIG) added $3.59 to $58.90 and options action is brisk Friday. After a two-day 4.2 percent gain, shares rallied at the open after FBR Capital analysts said that, after meeting with legal experts, RIG’s liability from the Macondo Oil spill is likely to be a lot less than the $6 to $7 billion currently discounted in the stock price. Bubbling crude oil is also giving the driller’s some support. Crude gained $2.25 to $76.50 a barrel Friday after IEA raised estimates for global oil demand. RIG shares are running higher and today’s options volume includes approximately 84,000 calls and 50,000 puts. The top trade is block of 3000 Feb 50 puts at the $3.45 ask price, which might be a shareholder buying puts and looking to protect recent gains. Sep 55, 57.5, and 60 calls, which expire in one week, are the most actives. Implied volatility is up about 2.5 percent to 46, which compares to a 52 week high and low of 171 and 27.