Ciena Corp. shares may move 9.4% after the company releases earnings on September 3 before the market opens, options data indicates. The stock’s actual move exceeded the options-implied move in six of the past eight earnings announcements. Shares fell 8.0% after the June 4 report against a 12.8% implied move, and declined 15.3% on March 5 versus 13.3%. In December 2025, the stock jumped 25.4% against a 13.8% implied move, while the September 2025 report produced a 26.1% gain compared with a 7.5% implied move. Earlier 2025 results included an 11.7% June decline against a 9.2% implied move and a 14.4% March drop against 11.8%. In 2024, shares rose 15.5% after the December report, exceeding a 10.2% implied move, while the September announcement produced a 3.7% decline against an 8.5% implied move.