Pre-earnings options volume in Patterson-UTI is normal with puts leading calls 10:9. Implied volatility suggests the market is anticipating a move near 5.6%, or 58c, after results are released. Median move over the past eight quarters is 3.5%.
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Read More on PTEN:
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- Patterson-UTI downgraded to Hold from Buy at Benchmark
- Patterson-UTI price target lowered to $15 from $16 at Barclays
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