Financial giants have made a conspicuous bullish move on Cleveland-Cliffs. Our analysis of options history for Cleveland-Cliffs CLF revealed 14 unusual trades.
Delving into the details, we found 57% of traders were bullish, while 21% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $1,108,225, and 8 were calls, valued at $443,042.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $5.0 to $15.0 for Cleveland-Cliffs over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Cleveland-Cliffs stands at 2466.25, with a total volume reaching 12,562.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Cleveland-Cliffs, situated within the strike price corridor from $5.0 to $15.0, throughout the last 30 days.
Cleveland-Cliffs 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLF | PUT | SWEEP | BEARISH | 01/17/25 | $2.0 | $1.95 | $1.98 | $12.00 | $402.5K | 7.3K | 2.0K |
| CLF | PUT | SWEEP | BULLISH | 10/25/24 | $0.88 | $0.87 | $0.87 | $11.00 | $395.3K | 66 | 1.0K |
| CLF | CALL | SWEEP | BULLISH | 01/16/26 | $6.35 | $6.2 | $6.35 | $5.00 | $164.4K | 95 | 259 |
| CLF | PUT | SWEEP | NEUTRAL | 10/18/24 | $0.77 | $0.75 | $0.76 | $11.00 | $152.8K | 11.3K | 2.0K |
| CLF | PUT | SWEEP | BULLISH | 10/25/24 | $0.87 | $0.82 | $0.87 | $11.00 | $95.0K | 66 | 1.0K |
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.
Following our analysis of the options activities associated with Cleveland-Cliffs, we pivot to a closer look at the company's own performance.
Cleveland-Cliffs's Current Market Status
- With a volume of 6,453,127, the price of CLF is down -3.29% at $10.89.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 41 days.
Expert Opinions on Cleveland-Cliffs
In the last month, 2 experts released ratings on this stock with an average target price of $15.75.
- An analyst from Seaport Global has elevated its stance to Buy, setting a new price target at $16.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Cleveland-Cliffs, targeting a 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.
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