lt cap,

The 15%+ blowdown on CIEN is oh so tempting, but I've got too much. I've been thinking about what the analysts that were so hot on it (I think Blair went out and said it was going to be a very good quarter), both 6 months ago and as of yesterday, are going to do. The most likely scenario, I think, is that they'll support the stock, citing the lt potential. The guy who said if it's a great CC, buy, and if it's bad cc, buy, is obviously 'married' to that conviction. Not that analysts won't risk looking foolish.

I've been looking at INFN covered calls, and the Apr. 15 (or is that 17th?) stk 15 are pretty attractive - .80/sh, and the stock is trading at $14.60. But while the open interest is substantial, the trading on it today is anemic - few shares, a .30 spread between bid and ask. .80 is the midpoint.