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Put Selling Option Trade Indicates Bullish Outlook on Patterson-UTI Energy Company

Put Selling Option Trade Indicates Bullish Outlook on Patterson-UTI Energy Company

Posted January 13, 2023
Jeff Praissman
Interactive Brokers

The daily option volume was over 4k greater than the average option value this morning in Patterson-UTI Energy Company (PTEN). A large trade selling 4.9K February 17’23 12 puts at $0.10 hit the tape around 10 am. The seller took in $49,000 in premium, at a five delta this trade represented buying 24,500 shares of stock at a level the stock has not traded below since September 30, 2022 when it a daily low of $11.39.

A large trade selling 4.9K February 17’23 12 puts at $0.10 hit the tape around 10 am.

PTEN is expected to report earning February 8th and has beaten estimates in the past two earning periods.

PTEN is expected to report earning February 8th and has beaten estimates in the past two earning periods.
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Disclosure: Options Trading

Options involve risk and are not suitable for all investors. Multiple leg strategies, including spreads, will incur multiple commission charges. For more information read the "Characteristics and Risks of Standardized Options" also known as the options disclosure document (ODD) or visit ibkr.com/occ

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