Notable Put Options Activity in Ciena

Shares of Ciena (NASDAQ: CIEN) are higher on the session by 0.66%, currently trading at $10.73. The stock has been moving largely lower over the past two months and is currently trading below the 50-day moving average.

Options traders are focusing on puts today. The strike seeing the heaviest action is the January 2012 $10.00 put, which has traded 17,000 times on open interest of 23,334 contracts. The April 2012 $9.00 put also traded 7,000 times on 484 contracts.

Put volume is outpacing call volume by 8 to 1.

Ciena Corporation is a provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic.