Bullish option flow detected in Patterson-UTI with 2,156 calls trading, 5x expected, and implied vol increasing over 1 point to 52.67%. Mar-24 12 calls and May-24 8 calls are the most active options, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 0.01. Earnings are expected on February 14th.
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Read More on PTEN:
- Patterson-UTI call volume above normal and directionally bullish
- Patterson-UTI downgraded to Hold from Buy at Benchmark
- Patterson-UTI price target lowered to $15 from $16 at Barclays
- Patterson-UTI price target lowered to $17 from $19 at Piper Sandler
- Patterson-UTI price target lowered to $16 from $17 at Citi
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