CIENA Corp. (NASDAQ: CIEN) has seen what is nothing short of an odd move today in both the stock and in in call options activity. There are some hints out there that Nokia-Siemens, the venture of Nokia Corp. (NYSE: NOK) and Siemens AG (NYSE: SI), may go after CIENA after their failed attempt to acquire the Metro Ethernet Networks unit. The Nokia-Siemens venture went after this unit, but CIENA won the deal despite some after-cut-off attempts. CIENA shares are up 5% at $11.57 on 14.4 million shares as of 2:18 PM EST. The 52-week trading range is $4.98 to $16.64 and the average volume is about 7.3 million shares per day.
Options trading is also VERY active considering the dead-money nature of this stock. The JAN-2010 $12.50 CALLS have traded 15,615 contracts versus a prior open interest of 9,359 contracts. The FEB-2010 $12.00   CALLS have also seen 13,110 contracts trade versus a prior open interest of 1,408 contracts.
While the markets stayed strong, CIEN remained fairly weak. Yesterday’s $11.02 close was the first closing price above $11.00 since the day before Christmas. If today’s gain hold, this would mark the highest CIENA share prices since December 11, 2009.
JON C. OGG
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