Whales with a lot of money to spend have taken a noticeably bearish stance on Cleveland-Cliffs.
Looking at options history for Cleveland-Cliffs CLF we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $380,372 and 4, calls, for a total amount of $186,892.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.5 to $20.0 for Cleveland-Cliffs over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Cleveland-Cliffs's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Cleveland-Cliffs's whale activity within a strike price range from $12.5 to $20.0 in the last 30 days.
Cleveland-Cliffs Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLF | PUT | TRADE | BEARISH | 01/16/26 | $6.65 | $6.6 | $6.65 | $20.00 | $215.4K | 3.2K | 5 |
| CLF | CALL | TRADE | BEARISH | 09/06/24 | $0.14 | $0.12 | $0.12 | $14.50 | $75.2K | 9.1K | 8.5K |
| CLF | PUT | TRADE | BEARISH | 01/17/25 | $2.26 | $2.22 | $2.26 | $15.00 | $67.7K | 13.3K | 508 |
| CLF | PUT | TRADE | BULLISH | 11/15/24 | $2.63 | $2.62 | $2.62 | $16.00 | $52.1K | 1.8K | 1 |
| CLF | PUT | SWEEP | BEARISH | 01/17/25 | $2.26 | $2.18 | $2.26 | $15.00 | $44.9K | 13.3K | 208 |
About Cleveland-Cliffs
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
After a thorough review of the options trading surrounding Cleveland-Cliffs, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Cleveland-Cliffs
- Trading volume stands at 3,791,699, with CLF's price down by -3.59%, positioned at $13.54.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 54 days.
Professional Analyst Ratings for Cleveland-Cliffs
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $15.75.
- An analyst from Seaport Global has elevated its stance to Buy, setting a new price target at $16.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Cleveland-Cliffs, maintaining a target price of $15.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Cleveland-Cliffs, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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