Jamok,

Knowing nothing about CIEN myself, and just glancing at the chart, the $23 level is important. That was the high in June last year, and when it broke over there in May this year it then dropped back to test that level a month ago. The 100ma is also at $23, and this was support in April. You might be better off waiting for a bounce before selling calls. Also, they don't need to be 35 days out. It has weekly options. Personally, I favor selling 1-3 weeks out, so you can catch a decent amount of theta premium decay. Or if it does go below $23 soon and doesn't immediately bounce back over it, sell $23 calls when it bounces back to that line.