<p>Jon,</p> <p>As you said - 'I'm not sure anyone knows what they're doing in regards to earnings' on CIEN. I am following the smart money (you), and have sezied the opp to sell covered calls stk 22 exp 9/16 for $1.08. My entire position. My expectations for CIEN in the short run have been reduced from watching it skyrocket to getting out with at least even. And those calls do that, with a small profit, if it finishes ITM. Aside from following your lead, my thinking on CIEN short-term is this: Although they have a pretty strong relationship with NA customers (ATT?), about 3 CC's ago, their ship came in and the price rose to $25+ which made the analysts giddy with higher PTs. The next two CC's were pretty ugly, and as you know, we went to somewhere in the mid-teens, without any huge hope of stimulus sometime soon. On top of that, look at the difficulty the sector is having, altho some of them don't overlap CIEN's territory: Juniper was a disappointment with a 6% drop. Ericsson's CC was not pretty, and NOK followed suit. INFN had fallen 40 stories and it looked liked it was about to hit the pavement, and then it fell another 40 stories upon the most most messed up CC they have ever had. So, why should CIEN be any different, except that their focus  in the NA market, which I'm not sure means it's a good thing. </p> <p>If CIEN surpises to the upside, well, ok, I will lighten in a sector where I am way overloaded. Anyone want to buy my INFN at $11? Watching INFN these days is like watching Helen Keller play videogames. I am still deep in NOK, which I will hold for however long it takes.</p>