Rowan Companies (RDC) Offering Possible 8.7% Return Over the Next 22 Calendar Days

Rowan Companies's most recent trend suggests a bearish bias. One trading opportunity on Rowan Companies is a Bear Call Spread using a strike $24.00 short call and a strike $29.00 long call offers a potential 8.7% return on risk over the next 22 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $24.00 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 rose above the $29.00 long call strike price.

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

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

The RSI indicator is at 65.87 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

Rowan Provides Fleet Contract Status Update
Tue, 23 Dec 2014 13:31:05 GMT
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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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Rowan Provides Fleet Contract Status Update
Thu, 20 Nov 2014 22:00:00 GMT
PR Newswire – HOUSTON, Nov. 20, 2014 /PRNewswire/ — Rowan Companies plc (“Rowan” or the “Company”) (NYSE: RDC) announced today that its monthly report of drilling rig status and contract information …

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