© Reuters. PG&E up nearly 5% on session
- Investors continue to react positively to yesterday’s news that the company isn’t planning a capital raise to cover the $2.5B charge from last year’s NoCal wildfires.
- In the meantime, the utility is lobbying California lawmakers to overturn a law restricting the ability to raise rates to cover wildfire liability costs.
- Bloomberg takes note of spiking call option volume today, with 3.6K of the July $43 strikes purchased vs. previous open interest of just about 1K. There’s also sizable buying action in the July $49 and July $48 strikes.
- PCG +4.5%
- Now read: NextEra Energy (NYSE:NEE) Partners (NEP) Presents At J.P. Morgan Energy Equity Conference – Slideshow