Rowan Companies (RDC) Offering Possible 11.11% Return Over the Next 25 Calendar Days

Rowan Companies's most recent trend suggests a bullish bias. One trading opportunity on Rowan Companies is a Bull Put Spread using a strike $23.00 short put and a strike $18.00 long put offers a potential 11.11% return on risk over the next 25 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $23.00 by expiration. The full premium credit of $0.50 would be kept by the premium seller. The risk of $4.50 would be incurred if the stock dropped below the $18.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Rowan Companies is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Rowan Companies is bullish.

The RSI indicator is at 60.26 level which suggests that the stock is neither overbought nor oversold at this time.

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LATEST NEWS for Rowan Companies

Rowan Provides Fleet Contract Status Update
Tue, 23 Dec 2014 13:31:05 GMT
noodls – This is an abstract of the original noodl. To continue reading this document, click here for the original version.

8:04 am Rowan Cos provides fleet contract status update; For the fourth quarter and full-year of 2014, the Company continues to expect jack-up out-of-service time to be ~7% and 10%
Tue, 23 Dec 2014 13:04:00 GMT

Rowan Provides Fleet Contract Status Update
Tue, 23 Dec 2014 13:00:00 GMT
PR Newswire – HOUSTON, Dec. 23, 2014 /PRNewswire/ — Rowan Companies plc (“Rowan” or the “Company”) (RDC) announced today that its monthly report of drilling rig status and contract information has been updated as of December 23, 2014. The report titled “Monthly Fleet Status Report” can be found on the Company's website at www.rowancompanies.com. Joe Douglas: Awarded a one-well contract with Fieldwood in the Gulf of Mexico for an estimated duration of 30-40 days which is expected to commence in late December 2014 at a day rate of $95,000. In addition, the Rig was awarded a three-well contract with BHP Billiton in Trinidad for an estimated duration of 120 days which is expected to commence in September 2015 at an effective day rate of $231,000. Rowan Gorilla III: Extended the contract with the rig share group in Trinidad by approximately six months from July 2015 to February 2016 at the day rate of $165,000.

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