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OT - CIEN
OT - CIEN. Steifel lowered from buy to hold with a $23 pt on
Sept. 30th. Today Piper Jaffrey raised the whole sector based on an
upside surprise by a company I hadn't heard of. Apparently,
included in what they named were INFN and CIEN, both of which are
doing nicely, CIEN up almost $1. Calls on CIEN are pretty paltry.
However, 1. They're better than nothing. I have some trepidation of
it going back to the mid-teens, which would mean 3 of my largest
holdings are way underwater. 2. If Jon's willing to take the calls,
I will also, based on some kind of voodoo on his calls where they
never finish ITM.
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Ok, maybe we will see. Just sold to open ~60% of position at
0.69 for 28Oct 23 calls.
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Author:
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breinejm
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Subject:
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Off Topic
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Sentiment:
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Neutral
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Date:
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10/06/16 at 12:09 PM CDT
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Jon,
Congrats - Maybe not the absolute top, but it appears that you
hit a 'sweet spot' in getting .69 for your Oct stk 23 calls. Stock
quickly shot up to $23.09 or so, has now retracted to about $22.50.
Those calls now fetching .55 cents. I know a lot of the gain must
be Piper Jaffrey's very bullish note on the sector, citing CIEN as
one of the stars. But CIEN seems to be more strong than not lately.
So I'm tempted, but probably will wait and see if we can get some
follow-through and catch that kind of a wave again. CIEN reports on
Dec. 8th, so there's plenty of time to dabble.
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Author:
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Jam
ok
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Subject:
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Off Topic
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Sentiment:
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Neutral
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Date:
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10/06/16 at 1:02 PM CDT
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