CIEN is getting closer the the uptrending support, it has bounced on this support multiple times and has followed this pattern the whole entire time.
I'll be keeping an eye on this one, I will be looking to take a position if the stock reacts nicely to the support, hopefully in the 36,5 ish area
CIEN announces earnings on 8/31 (Thursday) before market open.
Due to the size of the underlying, I would probably go short straddle or iron fly here, as a short strangle and/or iron condor really don't pay.
The Sept 8th 24 short straddle is currently paying a 2.35 credit at the door with break evens wide of the expected move, while the Sept 8th...