Large Call Purchase on Ciena Ahead of Earnings (CIEN)
September 07, 2010 2:28 PM
Shares of Ciena Corp. (NASDAQ: CIEN) are higher on the session by 1.96%, currently trading at $13.55. The stock has been moving largely lower over the past six months, off from a recent high near $19.50.
One options trader is betting that the stock rallies into its earnings report tomorrow. The September $14.00 call was just purchased 8,633 times, near the offer, for $0.34 just a short while ago; open interest on the strike is 5,795 contracts.
Total volume on the strike is now totaling over 14,000 contracts.
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. The company's optical service delivery and carrier Ethernet service delivery products are used individually, or as part of an integrated solution, in communications networks operated by service providers, cable operators, governments and enterprises worldwide.
