They beat last quarter and got hammered because they said margins were going down slightly this quarter. What's 1% margin on an expanding company with 25 trailing P/E?
Expecting CIEN to beat again, using this market tank to start a position, next week's calls.
If the market continues to tank, there is a chance it goes to $33 support. Leave some room to add.
Trade closed manually
⋅
Dumped half this morning and just dumped the rest, looks like it's going to retest bottom. Plan on buying back next week.
Comment
⋅
Wow, glad I got out. Down big pre-market on a downgrade. The only stock in the red, lol.
I'm gonna wait until week to buy calls, these downgrades before earnings are awesome, made money off of DLTH. Just firms trying to close out their short positions before earnings. This is #1 on my watch list next week.
Trade active
⋅
Bought some $33.5 calls this morning with room to add next week. Bare minimum it's gonna close this gap on earnings, can't really lose here.
Comment
⋅
Analyst doesn't even follow CIEN, says they're going to lower guidance for next quarter.... CIEN doesn't provide guidance at all.
Comment
⋅
Good chance we see $33 if the market tanks next week, but adding some more calls here and calling it a week. Price doesn't matter until Thursday morning anyways.
See ya guys later.
Comment
⋅
Saved myself a few bucks by flipping the calls yesterday morning and buying back in this morning. Weekly $33.5 calls were at $2 this morning, I can make money just by getting a gap fill Thursday morning....
Comment
⋅
Chart pattern is very bullish, but you never now. We'll find out tomorrow morning....
Trade closed manually
⋅
Well, the conference call must've been damn good because this was down $2 pre-market then ramped up. Flipped my $22.5 weekly calls at $5 for huge gain, way more than I lost last quarter.
Funny how this stock works, they beat last quarter and it went down, they missed this quarter and it gaps up big, lol.
Comment
⋅
Guess I got out early, but I had waaay more options than I should have so it made me nervous, especially since it tanked pre-market.
In any case I still made a boatload off of this, congrats to those who went in.