It traded pretty tightly today.  That’s a good sign I think!  Should be an interesting day tomorrow.

It broke out past the $15 mark but failed to hold and broke back down past 15, but it’s been holding strong at around 14.80 – 14.90 and consolidating.  The volume was lighter than average yesterday and closed about 1% higher than it opened, although it was down a bit from the previous day of trading.  Today it’s been trading very tight with low volume again, which tells me people aren’t willing to sell yet and that is a good sign.  I’m watching for it to break out of this tight pattern around the time it hits it’s 10 day moving average.

Still holding long 2737 shares, 20 OCT 10 15 calls and 35 OCT 10 16 calls.

CIEN kissed $15 this morning and is holding support at about $14.70 today.  My October $15 options have nearly tripled in price for a nice $1000 profit so far since last week when I bought them.  It’s my first real foray (is that redundant?) into options trading, so I’m not sure what to do…  Hold the options and hope for more profits, or sell and take what I’ve made so far?