Jon,
Apparently the market is telling us we sold CIEN calls too soon.
Apparently, the news today is that the virus could
just...disappear, it'd be like a miracle, it could just
disappear.
Or, maybe that's our shares that will just 'disappear' at
expy.
But the wheels 'still in spin' - news and stock beta is entirely
unpreditable - not to mention earnings, and outlook. IIRC, I
thought some time ago CIEN warned that Corona would
have an impact on their earnings. But is it is true that their
exposure to China is small, and with videoconferencing booming,
their American market sales might accelerate.
Which I probably shouldn't even comment on, because who knows
what happens next. I did think that selling June 12 stk $51.50's on
Friday was a reasonably safe bet to pocket
the $2.09 premium.