Notable Put Options Activity in Rowan Companies

Shares of Rowan Companies RDC are higher on the session by 2.65%, currently trading at $34.07. The stock has been moving largely lower over the past three months and is currently trading below the 50-day moving average. Options traders are focusing on puts today. A short while ago the September 2011 $33.00 put traded 1,500 times on open interest of 2,773 contracts. Put volume is dominating call volume 10 to 1. 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.