Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for PATTERSON-UTI ENERGY (PTEN) for the 17-Sep-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. PTEN was recently trading at $8.60 and has an implied volatility of 73.61% for this period. Based on an analysis of the options available for PTEN expiring on 17-Sep-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $8.58-$11.16 at expiration. In this scenario, the average linear return for the trade would be 34.68%. Big 7.23% Change: After closing the last trading session at $8.02, PATTERSON-UTI ENERGY opened today at $8.05 and has reached a high of $8.66. Trade approach: A movement as big as 7.23% is a significantly bullish indicator, so this trade is designed to be profitable if PTEN maintains its current direction and does not revert back to pricing on the bearish side of $8.60 on 17-Sep-2021. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if PATTERSON-UTI ENERGY closes at or above $8.45 on 17-Sep-2021. Based on our risk-neutral analysis, there is a 52.34% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.