A whale with a lot of money to spend has taken a noticeably bearish stance on Cleveland-Cliffs.
Looking at options history for Cleveland-Cliffs (NYSE:CLF) we detected 29 strange trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $154,144 and 25, calls, for a total amount of $2,909,277.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $32.0 for Cleveland-Cliffs over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Cleveland-Cliffs options trades today is 7430.83 with a total volume of 29,281.00.
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 $10.0 to $32.0 over 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CLF | CALL | TRADE | BEARISH | 02/18/22 | $18.00 | $1.4M | 18.8K | 6.2K |
| CLF | CALL | SWEEP | BEARISH | 01/19/24 | $20.00 | $135.6K | 6.9K | 411 |
| CLF | CALL | TRADE | BULLISH | 01/20/23 | $12.00 | $133.4K | 4.6K | 202 |
| CLF | CALL | SWEEP | BULLISH | 04/14/22 | $14.00 | $124.2K | 1.7K | 202 |
| CLF | CALL | TRADE | BULLISH | 01/20/23 | $10.00 | $110.5K | 6.7K | 132 |
Where Is Cleveland-Cliffs Standing Right Now?
- With a volume of 14,465,761, the price of CLF is up 4.0% at $20.66.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 2 days.
What The Experts Say On Cleveland-Cliffs:
- Wolfe Research downgraded its action to Peer Perform with a price target of $23
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.
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