Bearish flow noted in Patterson-UTI with 16,625 puts trading, or 5x expected. Most active are Sep-24 9 puts and Aug-24 10 puts, with total volume in those strikes near 16,500 contracts. The Put/Call Ratio is 89.38, while ATM IV is up nearly 2 points on the day. Earnings are expected on November 11th.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PTEN:
- PTEN Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Patterson-UTI price target lowered to $16 from $19 at Stifel
- Patterson-UTI price target lowered to $12.50 from $14 at BofA
- Patterson-UTI price target lowered to $12 from $14 at Piper Sandler
- Patterson-UTI price target lowered to $13 from $14 at Susquehanna