Wednesday, August 13, 2014 2:11:30 PM
You know how much we love BIG call buys in tech companies. Well there was just a very large one seen in China based Ciena Corporation (CIEN) this morning.
Just a little while ago we saw a trader buy 5,076 September $19 calls. Most of those were bought at the ask. This makes for a transaction value in the area of $584,000, not too shabby. Especially when you consider that CIEN stock price was weak at the time.
Ciena Corporation (CIEN) is currently trading at $18.92 down 29 cents, on slightly higher volume than average. CIEN has a 52 week high of $27.93, and a low of $18.00 on the year. It’s traded 1.8 million shares already this morning by. It’s average daily volume is just 2.5 million. It would appear some kind of news is coming with a big buy like this, or it could be earnings data leakage.
Ciena_logo CIENCiena Corporation (CIEN)announces quarterly earnings on September 2, so clearly this could be one of those high risk, high reward earnings plays. These calls are now 1.11 to 1.16, last traded at $1.15, down 9 cents on the day.
We like this trade given it’s size, the nature of the business. We’re inclined to dip our toes in this one and join the inside money on this.
Twenty three analysts currently follow Ciena Corporation (CIEN). The average rating on CIEN is a “OVERWEIGHT” and the average price target is $28.67. Cienna Corp is currently not profitable, with analysts expecting a 28 cent per share profit for this quarter, and an annual profit of 96 cents.
You don’t want to bet the farm on this one as earnings plays can go either way, but a small position would seem justified here. There’s now been almost 6,000 of the Sept 19 calls traded so clearly some others are jumping on this bandwagon.
- See more at: http://californiaexaminer.net/2014/08/13/big-call-buyer-pings-ciena-corporation-cien/#sthash.L7b3wA2u.dpuf
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CIEN
Recent CIEN News
- Ciena Announces Reporting Date and Web Broadcast for Fiscal Second Quarter 2024 Results • Business Wire • 05/01/2024 01:00:00 PM
- HSPnet Launches High Capacity B3JS and BDMCS Networks • Business Wire • 04/16/2024 01:00:00 PM
- Blue Planet Unveils Industry’s Only Multi-Cloud Native OSS Platform • Business Wire • 04/09/2024 01:00:00 PM
- Ciena Celebrates Major Customer Milestones and Optical Leadership at OFC 2024 in San Diego • Business Wire • 03/27/2024 01:00:00 PM
- Toshiba, Ciena Collaborate to Demonstrate Quantum Secure Communication at OFC • Business Wire • 03/26/2024 01:00:00 PM
- SEA-ME-WE 4 Enables Global Digitalization with Enhanced Connectivity Powered by Ciena • Business Wire • 03/11/2024 01:00:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 03/07/2024 07:39:44 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 12:03:09 PM
- Ciena Reports Fiscal First Quarter 2024 Financial Results • Business Wire • 03/07/2024 12:00:00 PM
- U.S. Index Futures See Modest Gains, Oil Prices Slip • IH Market News • 03/07/2024 11:01:20 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 11:13:56 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 08:38:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 08:33:49 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 09:46:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/15/2024 09:26:48 PM
- Astound Business Solutions Launches Commercial 400G Wavelength Service across the U.S., Powered by Ciena • Business Wire • 02/13/2024 01:01:00 PM
- Telia Lithuania Deploys Ciena’s WaveLogic 5 Extreme for Country-wide 800Gb/s Wavelength Service • Business Wire • 02/12/2024 02:00:00 PM
- Ciena Announces Internet Availability of 2024 Annual Meeting Proxy Materials • Business Wire • 02/08/2024 04:00:00 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 02/08/2024 03:01:58 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 02/08/2024 02:57:27 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 02/08/2024 02:54:22 PM
- Ciena Announces Reporting Date and Web Broadcast for Fiscal First Quarter 2024 Results • Business Wire • 02/06/2024 02:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/05/2024 09:37:10 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/30/2024 09:08:41 PM
- Form PRE 14A - Other preliminary proxy statements • Edgar (US Regulatory) • 01/29/2024 09:16:25 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
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