Puts Purchased on Quanta Services

Shares of Quanta Services PWR are lower on the session by 2.93%, currently trading at $19.90. The stock has been moving largely lower over the past four months and is currently trading below the 200-day moving average. Options traders are buying puts on the name today. A short while ago the July 2011 $19.00 put traded 2,000 times on open interest of 2,120 contracts. Overall put volume is now running at 8.04x the daily average with 84% of all puts traded being purchases on the offer. Quanta Services, Inc. is a provider of specialty contracting services, offering infrastructure solutions to the electric power, natural gas and oil pipeline and telecommunications industries.