Puts Purchased on Quanta Services, Inc. (PWR)

Shares of Quanta Services, Inc. PWR are lower on the session by 0.72%, currently trading at $22.62. The stock has been moving largely higher over the past four months and is currently trading above the 50-day and 200-day moving averages. Options traders are buying puts on the name today. A short while ago the May 2011 $23.00 put was purchased 2,000 times, on the offer, on open interest of 1,976 contracts. Overall put volume is now running at 9.75x the daily average with 82% 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, oil and telecommunications industries. The services it provides include the design, installation, upgrade, repair and maintenance of infrastructure within each of the industries it serves, such as electric power transmission and distribution networks and substation facilities, natural gas and oil transmission and distribution systems, and fiber optic, copper and coaxial cable networks used for video, data and voice transmission.