Optical V passband light curve of S5 0716+714 with different time binning. The light curve appears as a superposition of fast flares on a modulated base level varying on a (350 ± 9) day timescale. These slower variations can be clearly seen in 75-day binned light curve (error bar represents variations in flux over the binned period). The dashed line represents a spline interpolation through the 75-day binned light curve. Dotted lines are obtained by shifting the spline by ±0.65 mag.