Investors with a lot of money to spend have taken a bearish stance on Cleveland-Cliffs CLF.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with CLF, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Cleveland-Cliffs.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 45%, bearish.
Out of all of the options we uncovered, 10 are puts, for a total amount of $1,685,535, and there was 1 call, for a total amount of $80,760.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $20.0 for Cleveland-Cliffs during the past quarter.
Volume & Open Interest Trends
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 $10.0 to $20.0 in the last 30 days.
Cleveland-Cliffs Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLF | PUT | SWEEP | NEUTRAL | 06/20/25 | $10.25 | $10.0 | $10.05 | $20.00 | $301.5K | 3.2K | 300 |
| CLF | PUT | TRADE | NEUTRAL | 06/20/25 | $10.05 | $9.95 | $10.0 | $20.00 | $300.0K | 3.2K | 600 |
| CLF | PUT | TRADE | BEARISH | 06/20/25 | $9.95 | $9.9 | $9.95 | $20.00 | $298.5K | 3.2K | 1.5K |
| CLF | PUT | TRADE | BULLISH | 06/20/25 | $10.0 | $9.85 | $9.9 | $20.00 | $297.0K | 3.2K | 900 |
| CLF | PUT | TRADE | NEUTRAL | 06/20/25 | $9.9 | $9.8 | $9.85 | $20.00 | $295.5K | 3.2K | 1.2K |
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.
Where Is Cleveland-Cliffs Standing Right Now?
- Currently trading with a volume of 5,212,598, the CLF's price is down by -0.88%, now at $10.12.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 42 days.
What Analysts Are Saying About Cleveland-Cliffs
1 market experts have recently issued ratings for this stock, with a consensus target price of $16.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Goldman Sachs downgraded its rating to Buy, setting a price target of $16.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
