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PTEN Forecast + Trading Strategies



Price Forecast:


Bearish   <->   Bullish



Bullish Case: Increased drilling activities in the upcoming quarters may drive positive earnings and stock appreciation, supported by high cash flow, leading to upward price momentum for PTEN.



Bearish Case: Stagnant market conditions combined with high implied volatility and insider selling could suppress any potential price appreciation, leading to further declines in PTEN's value.



Potential Outcomes:

1. 55% chance of price increase following positive earnings from drilling;

2. 25% chance of stagnation due to elevated P/B ratio;

3. 15% chance of sharp decline triggered by sudden market correction;

4. 5% chance of recovery old highs due to unexpected acquisitions.



Trading Oracle: Adopt a bullish long volatility approach: buy PTEN $8.00 calls for potential upside as earnings catalyst nears, sell PTEN $9.00 calls to limit downside. This strategy capitalizes on current elevated implied volatility with a high probability of profit and low risk, aiming for maximum returns ahead of earnings announcements.


November 15, 2024


Patterson-UTI Energy Forecast

PTEN        Patterson-UTI Energy

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