Calls Purchased on Covanta Holding Corporation (CVA)

Shares of Covanta Holding Corporation CVA are higher on the session by 1.07%, currently trading at $16.93. The stock has been moving largely sideways over the past four months and is currently consolidating around the 50-day moving average. Options traders are buying calls on the name today. A short while ago the September 2011 $17.50 call was purchased 1,000 times, on the offer, on open interest of 309 contracts. Overall call volume is now running at 2.30x the daily average with 74% of all calls traded being purchases on the offer. Covanta Holding Corporation is an owner and operator of infrastructure for the conversion of waste to energy, as well as other waste disposal and renewable energy production businesses.