What’s Ciena Corporation Upside After Today’s Bullish Options Activity?

 What's Ciena Corporation Upside After Today's Bullish Options Activity?

In today’s session Ciena Corporation (CIEN) registered an unusually high (216) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious CIEN increase. With 216 contracts traded and 6564 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: CIEN170120C00024000 closed last at: $0.48 or 14.3% up. About 744,436 shares traded hands. Ciena Corporation (NYSE:CIEN) has risen 6.95% since March 28, 2016 and is uptrending. It has outperformed by 2.24% the S&P500.

Ciena Corporation (NYSE:CIEN) Ratings Coverage

Out of 11 analysts covering Ciena (NYSE:CIEN), 7 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 64% are positive. Ciena has been the topic of 26 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The rating was initiated by Drexel Hamilton on Friday, April 8 with “Buy”. The stock of Ciena Corporation (NYSE:CIEN) has “Overweight” rating given on Tuesday, January 12 by Morgan Stanley. RBC Capital Markets maintained it with “Outperform” rating and $25.0 target price in Friday, December 11 report. On Monday, August 29 the stock rating was maintained by Deutsche Bank with “Hold”. Raymond James upgraded Ciena Corporation (NYSE:CIEN) on Wednesday, August 26 to “Mkt Perform” rating. The stock of Ciena Corporation (NYSE:CIEN) has “Equal-Weight” rating given on Friday, October 9 by Morgan Stanley. The stock of Ciena Corporation (NYSE:CIEN) has “Neutral” rating given on Wednesday, January 27 by Citigroup. Jefferies upgraded the shares of CIEN in a report on Monday, December 21 to “Buy” rating. On Thursday, August 25 the stock rating was maintained by Citigroup with “Hold”. Northland Capital initiated Ciena Corporation (NYSE:CIEN) on Tuesday, August 18 with “Market Perform” rating.

According to Zacks Investment Research, “Ciena Corporation is the network specialist, focused on expanding the possibilities for its customers’ networks while reducing their cost of ownership. The Company’s systems, software and services target and cure specific network pain points so that telcos, cable operators, governments and enterprises can best exploit the new applications that are driving their businesses forward.”

Insitutional Activity: The institutional sentiment is 0.91 in Q2 2016. Its the same as in 2016Q1. The ratio is without change, as 46 funds sold all Ciena Corporation shares owned while 91 reduced positions. only 47 funds bought stakes while 77 increased positions. They now own 126.21 million shares or 7.77% less from 136.85 million shares in 2016Q1.
Blackrock Incorporated holds 0% or 122,620 shares in its portfolio. Jefferies Grp Limited Liability Com has invested 0.01% of its portfolio in Ciena Corporation (NYSE:CIEN). Carlson Limited Partnership accumulated 3.65 million shares or 0.85% of the stock. Sg Americas Ltd Liability Co last reported 36,891 shares in the company. First Tru Advisors L P holds 10,374 shares or 0% of its portfolio. Qs Limited Liability Corporation has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Blair William And Il has 14,300 shares for 0% of their US portfolio. Pinnacle Advisory Inc holds 0.02% of its portfolio in Ciena Corporation (NYSE:CIEN) for 13,904 shares. Clinton Gru accumulated 0.01% or 10,695 shares. Focused Wealth Management has invested 0% of its portfolio in Ciena Corporation (NYSE:CIEN). Intll Grp Inc Inc accumulated 0% or 325,251 shares. California Employees Retirement System owns 365,870 shares or 0.01% of their US portfolio. Huntington Bank & Trust last reported 156 shares in the company. Enterprise Services Corporation has 0.12% invested in the company for 11,150 shares. Strs Ohio holds 0% of its portfolio in Ciena Corporation (NYSE:CIEN) for 18,900 shares.

Insider Transactions: Since May 5, 2016, the stock had 0 insider buys, and 51 selling transactions for $4.85 million net activity. SMITH GARY B sold $173,484 worth of stock. Locoh-Donou Francois had sold 13,202 shares worth $278,257 on Thursday, September 15. MOYLAN JAMES E JR sold $37,100 worth of Ciena Corporation (NYSE:CIEN) on Thursday, July 28. 2,000 shares with value of $42,200 were sold by Rothenstein David M on Thursday, September 15. ALEXANDER STEPHEN B sold $55,055 worth of stock or 3,500 shares. Starke Marcus H had sold 10,692 shares worth $225,587 on Monday, June 6. FRODSHAM JAMES sold $83,370 worth of stock.

Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The company has a market cap of $2.64 billion. The Firm operates through four divisions: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. It has a 177.9 P/E ratio. The Company’s Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network switching and packet switching.

CIEN Company Profile

Ciena Corporation (Ciena), incorporated on November 2, 1992, is a well-known provider of communications networking equipment, software and services that support the transport, switching, aggregation and management of voice, video and data traffic. The Company’s packet-optical transport, packet-optical switching and carrier Ethernet service delivery products are used, individually or as part of an integrated solution, in networks operated by communications service providers, cable operators, governments and enterprises globally. The Company’s communications networking products, through their embedded software and its network management software suites, enable network operators to deliver enterprise and consumer-oriented communication services. The Firm operates in four divisions: converged packet optical, packet networking, optical transport, and software and services. The Company’s service well-known provider clients include regional, national and international, wire line and wireless carriers. The Company’s cable operator clients include cable and multiservice operators in the United States and internationally. The Company’s enterprise clients include multi-site commercial organizations, including participants in the financial, healthcare, transportation, utilities and retail industries. The Company’s government clients include federal and state agencies in the United States, as well as government entities outside of the United States.

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