EARN25

Options Traders Eye Ciena Stock Before Earnings

Ciena will report second-quarter results before the open tomorrow

Deputy Editor
Jun 5, 2023 at 2:31 PM
facebook X logo linkedin


Options traders are targeting Ciena Corp (NYSE:CIEN) ahead of earnings. The company's fiscal second-quarter results are due out ahead the open tomorrow, June 6, and analysts anticipate profits of 61 cents per share. So far, the stock's typically quiet options pits have seen 4,261 calls and 1,335 puts exchanged -- more than 10 times the average daily volume already -- with the July 50 call seeing the most activity. 

The stock's post-earnings sessions typically leaned bullish, if the past two years are any indicator. CIEN closed five of the last eight next-day sessions higher, including a 20% pop this past December. The options pits are pricing in a 12.6% move this time around, which is wider than the 9% swing the security has averaged, regardless of direction, over this time. 

Today, Ciena stock is down 1.6% at $47.36 at last glance. The descending 320-day moving average is pressuring the equity of late. Year-to-date, the shares are down 7%. 

CIEN June5

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!