Whales with a lot of money to spend have taken a noticeably bullish stance on Cleveland-Cliffs.
Looking at options history for Cleveland-Cliffs CLF we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 77% of the investors opened trades with bullish expectations and 22% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $112,649 and 7, calls, for a total amount of $615,554.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $20.0 for Cleveland-Cliffs, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Cleveland-Cliffs options trades today is 7614.11 with a total volume of 1,968.00.
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 $15.0 to $20.0 over the last 30 days.
Cleveland-Cliffs 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CLF | CALL | SWEEP | BULLISH | 01/17/25 | $20.00 | $286.0K | 8.9K | 7 |
| CLF | CALL | SWEEP | BULLISH | 04/19/24 | $20.00 | $118.6K | 2.3K | 1 |
| CLF | PUT | SWEEP | BULLISH | 03/15/24 | $20.00 | $74.3K | 755 | 0 |
| CLF | CALL | SWEEP | BULLISH | 01/19/24 | $20.00 | $66.0K | 24.6K | 626 |
| CLF | CALL | SWEEP | BULLISH | 02/16/24 | $20.00 | $47.3K | 4.4K | 10 |
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.
Having examined the options trading patterns of Cleveland-Cliffs, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Cleveland-Cliffs
- With a volume of 1,837,566, the price of CLF is down -0.05% at $20.85.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 47 days.
Expert Opinions on Cleveland-Cliffs
In the last month, 1 experts released ratings on this stock with an average target price of $11.45.
- Maintaining their stance, an analyst from GLJ Research continues to hold a Sell rating for Cleveland-Cliffs, targeting a price of $11.
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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