Patterson UTI Energy (PTEN), a Houston, TX Oil and Gas drilling company, is up 15 cents to $12.34 and 3,700 July 12.5 calls traded Thursday. 95 percent hit ask-side and existing open interest is 915. ISEE data confirm that customers are buying-to-open new positions. No recent news to explain the bullish trading in PTEN. The company announced its next quarter earnings release date earlier this week, which is July 30th and after the July expiration.
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.