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
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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

 

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