Bullish option flow detected in Patterson-UTI with 3,328 calls trading, 6x expected, and implied vol increasing almost 4 points to 36.67%. Nov-24 12 calls and Aug-24 10 calls are the most active options, with total volume in those strikes near 3,100 contracts. The Put/Call Ratio is 0.04. Earnings are expected on July 31st.
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Read More on PTEN:
- Patterson-UTI Enhances Long-Term Incentive Plan and Governance
- Patterson-UTI participates in a conference call with JPMorgan
- Unusually active option classes on open May 13th
- Patterson-UTI price target lowered to $14 from $17 at Piper Sandler
- Patterson-UTI sees U.S. Contract Drilling operating average of 114 rigs in Q2
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