What move does the options market price into Ciena's report?

Implied ±9.7%, either direction.

How often does Ciena move more than the options market prices?

5 of the last 8 reports moved at least as far as the implied move.

CIENNYSETelephone & Telegraph Apparatus

Ciena Corp (CIEN) earnings date, market-implied expected move, and options open interest by expiry

317.55

−31.90 · −9.13%

post 322.80 +1.65%

Closed19:43 ET

Open329.40Volume3.1MMkt cap$45.5BP/E69.72EPS4.63

Day315.33 – 331.7546%52-wk168.22 – 637.5133%

CIEN

Ciena Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±9.7%implied · report alone

8Q avg ±12.5%·×0.78·cheap

289.48351.96

straddle ±18.8%

spot 320.72exp Dec 11ATM strike 320ATM straddle 70.80IV 82%

Oct 30 closereport share · term structure

Expected move

Inputs

Next report

Dec 10

before open · in 39 days

est.Q4 FY26

Calendar

Next report

Last report

−10.36%

vs ±11.0% implied · ×0.95

shaded = implied · ▲▼ = realized

Sep 3 '26 · confirmed

Implied vs realized

Linked news

8dT · customerStocks making the biggest moves premarket: AT&T, SpaceX, Moderna, Deckers, Bloom Energy and more

News

Largest filed tie

13F top-10 QoQ

−1.56%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

1,236 managers

Top fund weight

0.75%

CIEN weight · FTC

N-PORTJul 31 '26

10 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Ciena (CIEN) is expected to report on Dec 10 before open (estimated date).

Implied vs realized

8 reports

5 of 8≥ implied

avg implied: ±11.0%
avg realized: ±12.5%

Dec 12 '24Dec 12 '24confirmed±8.8%▲+15.45%×1.75

Mar 11 '25Mar 11 '25confirmed±11.7%▼−2.41%×0.21

Jun 5 '25Jun 5 '25confirmed±10.1%▼−12.92%×1.28

Q3 FY25Sep 4 '25confirmed±11.0%▲+23.31%×2.12

Q4 FY25Dec 11 '25confirmed±11.3%▲+9.25%×0.82

Q1 FY26Mar 5 '26confirmed±11.4%▼−12.88%×1.13

Q2 FY26Jun 4 '26confirmed±12.3%▼−13.66%×1.11

Q3 FY26Sep 3 '26confirmed±11.0%▼−10.36%×0.95

quarterimplied−25%0+25%realized×

Q3 FY26±11.0%▼−10.36%×0.95

Q2 FY26±12.3%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 10 expiries · Oct 30 close

1.50OI · 10 expiries · Oct 30 closeP/C open interest · Dec 11 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

3 nearer expiries

2,027+33%Nov 65d0.782,600+48%0.78

1,651+10%Nov 1312d1.99828+49%1.99

10,640+10%Nov 2019d2.005,308+8%2.00

905+118%Nov 2726d1.00901+148%1.00

16—Dec 433d0.1890—0.18

2 later expiries

3,531+1%Mar 19138d0.814,353+3%0.81

1,300+10%Apr 16166d0.44

ExpiryPutsCallsP/C

3 nearer expiries

Nov 65d2,027+33%2,600+48%0.78

Nov 1312d1,651+10%828+49%1.99

Nov 2019d10,640+10%5,308

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±18.8%

Funds 4

FTC±0.1%

XLK±0.1%

VUG±0.0%

RSP±0.0%

Suppliers 1

SWKS±3.9%×0.21

Dashed = straddle · × = co-movement · max 499dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ3 FY26

15.94%as filednet margin · revenue +6.39% QoQ · +37.05% YoY

Revenue

$1.7B+6.39% QoQ

Gross profit

$759M+9.79% QoQ

45.43% margin

Operating income

$301M+26.61% QoQ

18.02% margin

Pre-tax income

$311M+34.43% QoQ

Net income

$266M+22.09% QoQ

15.94% margin

Cost of revenue

$912M+3.72% QoQ

Operating expenses

$458M+0.97% QoQ

R&D $237M

Marketing $154M

SG&A $63M

Other operating $5M

Tax

$44M+244.26% QoQ

Other income

$9M+238.63% QoQ

Revenue$1.7B+6.39%

Gross profit

$759M+9.79%

45.43% margin

Operating income

$301M+26.61%

18.02% margin

Pre-tax income

$311M+34.43%

Net income

$266M+22.09%

15.94% margin

Cost of revenue

$912M+3.72%

Operating expenses

$458M+0.97%

R&D $237M

Marketing $154M

SG&A $63M

Other income$9M+238.63%

Tax$44M+244.26%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Aug 1 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 19:30 ET

Intraday

Event sensitivity

CPI ×1.53· ±3.9% vs ±2.6% · 11 releases

eventrelease day|move|up · n×base

CPIconsumer prices±3.9%8 of 11×1.53

GDPgross domestic product±3.6%11 of 20×1.39

NFPjobs report±3.3%5 of 10×1.29

PCEpersonal income & outlays±3.3%11 of 20×1.28

CPROFcorporate profits±2.5%5 of 12×0.98

PPIproducer prices±2.4%5 of 11×0.93

FOMCrate decision±2.3%21 of 25×0.88

Bar = avg |move| to ±4% · tick = ±2.6% avg day · ×base = |move| ÷ ±2.6% · min 6 releases

Earnings history

EPS 1.83 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Sep 3 '26 · confirmed	1.83	—
Q2 FY26	Jun 4 '26 · confirmed	1.49	—
Q1 FY26	Mar 5 '26 · confirmed	1.03	—
Q4 FY25	Dec 11 '25 · confirmed	0.91	—

Methodology

ties · implied moves · holdersMethod