Calls Purchased on Patterson-UTI Energy

Shares of Patterson-UTI Energy, Inc. PTEN are higher on the session by 5.48%, currently trading at $29.24. The stock has been moving largely higher over the past five months and is currently trading above the 200-day moving average. Options traders are buying calls on the name today. A short while ago the July 2011 $30.00 call traded 2,500 times on open interest of 789 contracts. Overall call volume is now running at 11.24x the daily average with 80% of all calls traded being purchases on the offer. Patterson-UTI Energy, Inc. owns and operates fleets of land-based drilling rigs in the United States. Patterson-UTI's contract drilling business operates in Texas, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi, Colorado, Utah, Wyoming, Montana, North Dakota, Pennsylvania, West Virginia and western Canada.