Jon,

Yes, but you bought the shares lower than the $12.03 it is right now, so I'd think 7% is 7%, regardless of the option price to the stock price. (Yes, I understand, it's dismaying to see it zoom - if you had only waited. But..if you had only waited it might be an $11 stock now, and you'd feel prescient.)

But thanks for the reminder. I've only got about 1100 shares, and I just optioned 6 of them out for May 11th stk 12 (Oh, I see, you're talking about having taken a lower strike - but who knows what happens between now and May 12th?)  If the stock continues to rise, so be it. If it falls before earnings, I may 'cover' my bet by buying more shares. It's not enough money to really worry about.

I'm envious of the prescience in buying CIEN when it was so beaten down. Wish I had thought of that.

I looke up INFN and the expectations are for earnings of -18 cents.

Intel continues to worry me - they've now said the transition to 10nm will happen in 2019 - and the source commented that it might be at the end of that year, rather than sooner. A 3 year delay from the original estimate - it's unlike them to screw this up - or perhaps, more kindly, it must be a bitch to do that shrink and deal with leakage/interference issues to the point that wafer yields are acceptable.