Patterson-UTI Energy Inc. (PTEN)
Patterson-UTI Energy Max Pain By Strike
PTEN trades at $5.61, 6.5% below the near-term max pain of $6 expiring Aug 15, 2025 (0 days). Look for upward drift as max pain acts as a magnet pulling price higher. Max pain is falling across expirations ($1-$8), signaling increased put positioning or downside protection. Key magnetic zone at 7 where 3 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Patterson-UTI Energy Max Pain By Expiry
Max pain for PTEN shows a downward trend from 8 to 1, indicating bearish sentiment or hedging activity. The 117% spread signals divergent expectations across timeframes. Most levels above 5.61 could support dips. Strong magnetic level at 7 (3 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Aug 15, 2025 | 6 | 0.39 (6.95%) |
| Sep 19, 2025 | 7 | 1.39 (24.78%) |
| Oct 17, 2025 | 1 | -4.61 (-82.17%) |
| Nov 21, 2025 | 7 | 1.39 (24.78%) |
| Jan 16, 2026 | 8 | 2.39 (42.60%) |
| Feb 20, 2026 | 6 | 0.39 (6.95%) |
| Jan 15, 2027 | 7 | 1.39 (24.78%) |