Shares of Ciena (CIEN) were volatile in trading on Wednesday due to a rumor that the company is a potential takeover target. Options activity was also elevated, with 7.7K calls traded versus 520 puts. Speculation was mostly in the February 23 expiration options. The rumor has not been confirmed however, but there was substantial buzz on social media. CIEN shares closed up +2.34% to settle at 23.20. Keep an eye on the stock for further developments.