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SHARE-BASED COMPENSATION EXPENSE (Tables) | 12 Months Ended
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Oct. 30, 2021
Share-based Payment Arrangement [Abstract] |
Summary of stock option activity | The following table is a summary of Ciena’s stock option activity for the periods indicated (shares in thousands):
| Shares Underlying Options Outstanding |  | Weighted Average Exercise Price
Balance as of October 31, 2020 | 107 |  |  | $ | 31.41 |
Granted | — |  |  | — |
Exercised | (19) |  |  | $ | 30.13 |
Canceled | (5) |  |  | $ | 18.22 |
Balance as of October 30, 2021 | 83 |  |  | $ | 32.46 |
Summarizes information with respect to stock options outstanding | The following table summarizes information with respect to stock options outstanding at October 30, 2021, based on Ciena’s closing stock price on the last trading day of Ciena’s fiscal 2021 (shares and intrinsic value in thousands):
|  |  |  |  |  | Options Outstanding and Vested at |  |
|  |  |  |  |  | October 30, 2021 |  |
|  |  |  |  |  | Number |  | Weighted Average Remaining |  | Weighted |  |  |  |  |  |  |  |  |  |
Range of |  | of |  | Contractual |  | Average |  | Aggregate |  |  |  |  |  |  |  |
Exercise |  | Underlying |  | Life |  | Exercise |  | Intrinsic |  |  |  |  |  |  |  |
Price |  | Shares |  | (Years) |  | Price |  | Value |  |  |  |  |  |  |  |
$ | 11.34 |  |  | — |  |  | $ | 18.22 |  |  | 33 |  |  | 1.61 |  | $ | 14.36 |  |  | $ | 1,334 |  |  |  |  |  |  |  |  |
$ | 32.06 |  |  | — |  |  | $ | 55.63 |  |  | 50 |  |  | 1.46 |  | $ | 44.69 |  |  | 487 |  |  |  |  |  |  |  |  |
$ | 11.34 |  |  | — |  |  | $ | 55.63 |  |  | 83 |  |  | 1.52 |  | $ | 32.46 |  |  | $ | 1,821 |  |  |  |  |  |  |  |  |
Assumptions for awards granted | Assumptions for awards granted during fiscal 2021, fiscal 2020 and fiscal 2019 included the following:
| Year Ended
| October 30, 2021 |  | October 31, 2020 |  | November 2, 2019
Expected volatility of Ciena common stock, which is a weighted average of implied volatility and historical volatility | 41.00% |  | 31.77% |  | 34.10%
Historical volatility of Ciena common stock | 42.80% |  | 36.29% |  | 36.80%
Historical volatility of S&P Networking Index | 27.30% |  | 18.40% |  | 17.39%
Correlation coefficient | 0.6800 |  | 0.5891 |  | 0.6251
Expected life in years | 2.87 |  | 2.87 |  | 2.87
Risk-free interest rate | 0.17% |  | 1.65% |  | 2.62%
Expected dividend yield | 0.0% |  | 0.0% |  | 0.0%
Summary of restricted stock unit activity | The following table is a summary of Ciena’s restricted stock unit activity for the period indicated, with the aggregate fair value of the balance outstanding at the end of each period, based on Ciena’s closing stock price on the last trading day of the relevant period (shares and aggregate fair value in thousands):
| Restricted Stock Units Outstanding |  | Weighted Average Grant Date Fair Value Per Share |  | Aggregate Fair Value
Balance as of October 31, 2020 | 4,049 |  |  | $ | 35.08 |  |  | $ | 159,498 |
Granted | 2,350 |  |  |  |  |
Vested | (2,079) |  |  |  |  |
Canceled or forfeited | (236) |  |  |  |  |
Balance as of October 30, 2021 | 4,084 |  |  | $ | 43.67 |  |  | $ | 221,733 |
Share-based compensation expense | The following table summarizes share-based compensation expense for the periods indicated (in thousands):
| Year Ended
| October 30, 2021 |  | October 31, 2020 |  | November 2, 2019
Products | $ | 3,408 |  |  | $ | 3,182 |  |  | $ | 2,868 |
Services | 5,181 |  |  | 3,853 |  |  | 3,175 |
Share-based compensation expense included in cost of goods sold | 8,589 |  |  | 7,035 |  |  | 6,043 |
Research and development | 21,863 |  |  | 16,987 |  |  | 14,321 |
Sales and marketing | 25,152 |  |  | 20,194 |  |  | 16,474 |
General and administrative | 28,804 |  |  | 23,424 |  |  | 22,841 |
Share-based compensation expense included in operating expense | 75,819 |  |  | 60,605 |  |  | 53,636 |
Share-based compensation expense capitalized in inventory, net | (72) |  |  | 118 |  |  | 57 |
Total share-based compensation | $ | 84,336 |  |  | $ | 67,758 |  |  | $ | 59,736 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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