20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Deep-pocketed investors have adopted a bullish approach towards Cleveland-Cliffs (NYSE: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 10 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 60% leaning bullish and 40% bearish. Among these notable options, 7 are puts, totaling $687,504, and 3 are calls, amounting to $551,873.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $18.0 and $30.0 for Cleveland-Cliffs, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cleveland-Cliffs's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cleveland-Cliffs's substantial trades, within a strike price spectrum from $18.0 to $30.0 over the preceding 30 days.
Cleveland-Cliffs Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CLF | CALL | TRADE | BULLISH | 02/16/24 | $20.00 | $460.0K | 16.0K | 42 |
| CLF | PUT | TRADE | BEARISH | 07/19/24 | $30.00 | $321.7K | 251 | 281 |
| CLF | PUT | TRADE | BEARISH | 01/17/25 | $22.00 | $95.0K | 1.9K | 0 |
| CLF | PUT | SWEEP | BULLISH | 08/16/24 | $18.00 | $72.7K | 309 | 500 |
| CLF | CALL | SWEEP | BULLISH | 02/16/24 | $18.00 | $55.2K | 2.0K | 528 |
About Cleveland-Cliffs
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It has 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.
Current Position of Cleveland-Cliffs
- Currently trading with a volume of 2,407,679, the CLF's price is down by -0.43%, now at $18.6.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 19 days.
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.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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