Watch These 5 Huge Put Purchases In Thursday Trade

Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday in Benzinga Professional. Take special notice of several trades in Ciena Corporation CIEN

1. Ciena Corporation Fri 6/3 15.0 Puts (Wkly): 661 @ ASK $0.06: 12k traded vs 355 OI: Earnings Tomorrow Before Open $17.74 Ref
2. Ciena Corporation Oct16 16.0 Puts Sweep: 546 @ ASK $1.10: 546 traded vs 145 OI: Earnings Tomorrow Before Open $17.64 Ref
3. Ciena Corporation Fri 6/3 15.5 Puts (Wkly): 2499 @ ASK $0.17: 2683 traded vs 1036 OI: Earnings Tomorrow Before Open $17.47 Ref
4. Gap Inc GPS Dec16 14.0 Puts Sweep: 1601 @ ASK $0.75: 1601 traded vs 454 OI: $17.88 Ref
5. Allstate Corp ALL Jul16 65.0 Puts: 1500 @ ASK $0.71: 1516 traded vs 514 OI: $67.19 Ref