Quanta Looks To Power Higher (PWR)

Shares of Quanta Services, Inc. PWR are higher on the session by 1.04%, currently trading at $18.40. The stock has been moving largely lower over the past three months, though is now nearing support at $18.00. Options traders believe that the stock can move higher from these support levels. A short while ago the January 2011 $22.50 call was purchased 1,000 times, on the offer, for $0.25; open interest on the strike is 2,490 contracts. There has also been smaller lot call buying on the $19 and $20 strikes in multiple months. Call volume is now running at 7.28x the daily average with 95% of all calls purchases 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. For more great research like this, as well as how to play it through options…please visit Benzinga's Options & Volatility Edge and Benzinga's Cash Generator.