Ciena Corporation (CIEN) Traders Zero In On $20

Ciena Corporation (CIEN) is sitting at its year-to-date breakeven level

Digital Content Group
Mar 30, 2015 at 3:19 PM
facebook twitter linkedin


Ciena Corporation (NYSE:CIEN) puts have been bought to open over calls at a quicker-than-usual clip in recent weeks. The stock's 10-day put/call volume ratio across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 0.77, which ranks in the 85th percentile of its annual range.

This isn't any great surprise, considering CIEN's technical track record. The shares are up 1.2% this afternoon to trade at $19.41, but that only brings them to their year-to-date breakeven mark. Plus, longer term, the communications networking stock is down 14.4% year-over-year.

Today, both calls and puts are running at more than double their usual intraday pace. In the top spot is the out-of-the-money April 20 call, which traders are buying to open. In short, they expect Ciena Corporation (NYSE:CIEN) to topple the round-number $20 level by the close on Friday, April 17, when front-month options expire.

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

SCHAEFFER'S JULY STOCKS REPORT AD
 


 


 
Special Offers from Schaeffer's Trading Partners