Market Overview

Calls Purchased on Rowan Companies (RDC)

Shares of Rowan Companies (NYSE: RDC) are higher on the session by 9.06%, currently trading at $28.04. The stock has been moving largely higher over the past six weeks, but is breaking out of its recent range today on high volume.

Options traders are picking up calls on the name today as well. The September $28.00 call was purchased 2,600 times, on the offer, a short while ago; open interest on the strike is 393 contracts. This signals new positioning on the strike.

Call volume is now running at 3.60x the daily average.

Rowan Companies, Inc. is a provider of international and domestic contract drilling services. Rowan also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries. The company operates in three segments: Drilling Services, Drilling Products and Systems, and Mining, Forestry and Steel Products.

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Posted-In: Long Ideas Technicals Options Trading Ideas

 

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