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Author:

Jam ok

Subject:

Off Topic

Date:

11/20/18 at 1:06 PM CST

 

 

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Sentiment:

Neutral

OT - CIEN

OT - CIEN - After having day-upon-day of great run-up to $35, CIEN keeps following the market down, now below $31. Needham today cut it from buy to hold. They did acknowledge a lot of strengths, but thought it was perhaps priced in and had some trepidation about the upcoming CC. I think I posted here that I bought some at 32.97 and optioned it out for stk $33 for Dec. 21st, with a $1.92 premium. Not low enough to close those calls out, but it may get there.  The thing about buying stock and writing calls is that like most stocks in this sector, a CC will move the stock 10 - 25 % (just ask INFN), wiping your premiums if the CC is a disappointment. Oh well.

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