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Technology Stocks : Ciena (CIEN) -- Ignore unavailable to you. Want to Upgrade?

To: James Fulop who wrote (6428)2/15/1999 9:41:00 PM
From: HoyaBob  Respond to of 12623
 
CIEN CALLS: My strategy to repair CIEN position was to sell covered calls. These have been so volatile that, coupled with averaging down on the shares (as low as 8 1/2!), I've been able to turn a significant loss (got in around 65, even bought a few hundred in the mid-70's, loaded up when it went below 10) into a modest gain. With the stock so cheap, I think it's a good idea to get at least a few thousand shares in order to trade the calls in volume. Anyone else trying this?



To: James Fulop who wrote (6428)2/16/1999 10:13:00 AM
From: Doughboy  Read Replies (1) | Respond to of 12623
 
Sprint is Ciena's biggest customer. Over the last year, they've vacillated between being Ciena's strongest backer and being a tentative partner. (They've warned Ciena that they are seeking a second supplier and that they expect bigger discounts.) I think this announcement is nothing new--it reflects the current strong state of their relationship.

Doughboy.


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