Rowan Companies (RDC) Offering Possible 8.7% Return Over the Next 19 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 $31.00 short put and a strike $26.00 long put offers a potential 8.7% return on risk over the next 19 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $31.00 by expiration. The full premium credit of $0.40 would be kept by the premium seller. The risk of $4.60 would be incurred if the stock dropped below the $26.00 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 49.03 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Rowan Companies

Offshore Drillers: No End to Slump in Sight But These Stocks Might Be Worth Buying
Mon, 02 Jun 2014 17:37:00 GMT

Analysts Are Split on the Outlook for These Offshore Drillers
Wed, 28 May 2014 15:16:01 GMT

Rowan Provides Fleet Contract Status Update
Tue, 27 May 2014 23:18:00 GMT
PR Newswire – HOUSTON, May 27, 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 May 27, 2014. The report titled “Monthly Fleet Status Report” can be found on the Company's website at www.rowancompanies.com. Rowan Renaissance: The rig began experiencing issues with its subsea systems on May 19, 2014. The Company is working to rectify these issues and expects the rig to resume normal operations by the beginning of June 2014. During this period the Company may incur some amount of unbillable operational downtime. Joe Douglas: Awarded an estimated 90-day contract with Freeport-McMoRan Oil & Gas in the Gulf of Mexico commencing May 2014 at a day rate of $165,000, which is above the previous day rate of $160,000. Rowan Gorilla VII: Awarded a 220-day extension with Apache in the UK sector of the North Sea commencing in November 2014 at a day rate of $280,000, which is no change from the current day rate.

ROWAN COMPANIES PLC Financials
Tue, 20 May 2014 17:04:18 GMT

Rowan Companies Continues to Surprise
Tue, 20 May 2014 12:44:14 GMT

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