Deep-pocketed investors have adopted a bearish approach towards Cleveland-Cliffs CLF, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CLF usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Cleveland-Cliffs. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 0% leaning bullish and 100% bearish. Among these notable options, 9 are puts, totaling $537,735, and 3 are calls, amounting to $108,260.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.0 to $19.0 for Cleveland-Cliffs over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $12.0 to $19.0 in the last 30 days.
Cleveland-Cliffs Call and Put Volume: 30-Day Overview
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 | BEARISH | 04/17/25 | $4.65 | $4.55 | $4.65 | $17.00 | $139.5K | 1.2K | 303 |
| CLF | PUT | SWEEP | BEARISH | 04/17/25 | $4.65 | $4.55 | $4.65 | $17.00 | $116.2K | 1.2K | 253 |
| CLF | PUT | SWEEP | BEARISH | 06/20/25 | $2.01 | $2.0 | $2.01 | $13.00 | $52.0K | 11.5K | 259 |
| CLF | CALL | TRADE | BEARISH | 01/16/26 | $1.55 | $1.53 | $1.53 | $17.00 | $48.9K | 3.9K | 321 |
| CLF | PUT | SWEEP | BEARISH | 11/15/24 | $2.47 | $2.38 | $2.47 | $15.00 | $48.9K | 1.1K | 206 |
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.
Cleveland-Cliffs's Current Market Status
- Currently trading with a volume of 6,066,729, the CLF's price is up by 0.23%, now at $12.87.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 60 days.
What The Experts Say On Cleveland-Cliffs
In the last month, 1 experts released ratings on this stock with an average target price of $15.0.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Cleveland-Cliffs, targeting a 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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