Cleveland-Cliffs's Options Frenzy: What You Need to Know

Benzinga's options scanner just detected over 9 options trades for Cleveland-Cliffs CLF summing a total amount of $372,149.

At the same time, our algo caught 6 for a total amount of 289,229.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $8.0 and $12.0 for Cleveland-Cliffs, spanning the last three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Cleveland-Cliffs options trades today is 7367.33 with a total volume of 37,456.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Cleveland-Cliffs's big money trades within a strike price range of $8.0 to $12.0 over the last 30 days.

Cleveland-Cliffs 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

In light of the recent options history for Cleveland-Cliffs, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Cleveland-Cliffs

• Currently trading with a volume of 7,867,862, the CLF's price is down by -3.04%, now at $9.24.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 31 days.

Expert Opinions on Cleveland-Cliffs

In the last month, 3 experts released ratings on this stock with an average target price of $12.97.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from GLJ Research persists with their Buy rating on Cleveland-Cliffs, maintaining a target price of $12. * Maintaining their stance, an analyst from Seaport Global continues to hold a Buy rating for Cleveland-Cliffs, targeting a price of $11. * Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Cleveland-Cliffs with a target price of $15.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cleveland-Cliffs with Benzinga Pro for real-time alerts.