Shares of Quanta Services Inc. (PWR) are up .28 to 36.63 today. PWR is at the top of the 52 week range.
Today paper traded 1000 each of the PWR May 33 and 34 calls for 4.10 and 3.2. The ADV is 2012 contracts. The OI is 1161 and 1059 contracts.
The volume went up in scattered volumes.? Both strikes had buyers lifting the offer early in the session with paper coming in to fill the 34 strike on 519 contracts.? In both cases the call buyers showed up first.? This could be a ?stupid? cover on a call over writer as the stock has moved up from the 30 handle in Mid-Feb.? The trade is probably a close on the rally which means they are expecting more upside.
30-day implied volatility is 21%.?? 10-day implied volatility is 14%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
Quanta Services, Inc. (Quanta) is a provider of specialty contracting services, offering infrastructure solutions primarily to the electric power and natural gas and oil pipeline industries.