Deep-pocketed investors have adopted a bullish approach towards Ciena (NYSE:CIEN), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CIEN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Ciena. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 33% bearish. Among these notable options, 4 are puts, totaling $212,450, and 11 are calls, amounting to $530,048.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $57.5 to $95.0 for Ciena over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Ciena's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Ciena's whale activity within a strike price range from $57.5 to $95.0 in the last 30 days.
Ciena Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CIEN | CALL | SWEEP | BULLISH | 12/20/24 | $6.2 | $5.8 | $6.2 | $82.50 | $124.0K | 515 | 223 |
| CIEN | PUT | SWEEP | BULLISH | 01/17/25 | $7.9 | $7.9 | $7.9 | $95.00 | $79.0K | 0 | 109 |
| CIEN | CALL | SWEEP | BULLISH | 01/17/25 | $23.0 | $22.4 | $23.0 | $62.50 | $73.6K | 301 | 17 |
| CIEN | CALL | SWEEP | BULLISH | 12/20/24 | $12.2 | $10.4 | $12.0 | $75.00 | $54.5K | 679 | 0 |
| CIEN | PUT | TRADE | NEUTRAL | 01/17/25 | $2.65 | $2.45 | $2.55 | $85.00 | $50.9K | 0 | 67 |
About Ciena
Ciena Corp is a network and technology company. It provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks. It serves various industries such as communication services providers, web-scale providers, cable operators, government, and large enterprises world-wide. The business activities function through Networking Platforms; Platform Software and Services; Blue Planet Automation Software, and Global Services segments. Geographically, its presence is seen in the markets of the United States, Canada, the Caribbean, Latin America, Europe, the Middle East, Africa, the Asia Pacific, Japan, and India. The maximum revenue is generated from Americas.
Ciena's Current Market Status With a trading volume of 2,962,131, the price of CIEN is up by 15.87%, reaching $84.83. Current RSI values indicate that the stock is may be overbought. Next earnings report is scheduled for 0 days from now. What The Experts Say On Ciena
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $80.25.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Ciena, targeting a price of $84. * An analyst from Stifel downgraded its action to Buy with a price target of $82. * An analyst from Rosenblatt persists with their Neutral rating on Ciena, maintaining a target price of $75. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for Ciena, targeting a price of $80.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Ciena, Benzinga Pro gives you real-time options trades alerts.
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