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OT - CIEN
OT - CIEN. Steifel lowered from buy to hold with a $23 pt on
Sept. 30th. Today Piper Jaffrey raised the whole sector based on an
upside surprise by a company I hadn't heard of. Apparently,
included in what they named were INFN and CIEN, both of which are
doing nicely, CIEN up almost $1. Calls on CIEN are pretty paltry.
However, 1. They're better than nothing. I have some trepidation of
it going back to the mid-teens, which would mean 3 of my largest
holdings are way underwater. 2. If Jon's willing to take the calls,
I will also, based on some kind of voodoo on his calls where they
never finish ITM.
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