Ciena (CIEN) volatility stays above averages after sharp sell off

Ciena (Nasdaq: CIEN) shares sold off 16% on June 8 on a larger than expected adjust loss. Citigroup reiterated its Buy rating and said yesterday sell off provides an attractive entry point. July put option implied volatility is at 46, October is at 47; compared to its six-month average of 43 according to Track Data, suggesting larger price movement.

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