In the optical device, a ring-resonator modulator, having an adjustable resonance (center) wavelength, optically couples an optical signal that includes the carrier wavelength from an input optical waveguide to an output optical waveguide. A monitoring mechanism in the optical device, which is optically coupled to the output optical waveguide, monitors a performance metric of an output optical signal from the output waveguide. For example, the monitoring mechanism may monitor: an average optical power associated with the output optical signal, and/or an amplitude of the output optical signal. Moreover, control logic in the optical device adjusts the resonance wavelength based on the monitored performance metric so that the performance metric is optimized.