Investors with a lot of money to spend have taken a bearish stance on Cleveland-Cliffs (NYSE:CLF).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CLF, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 10 uncommon options trades for Cleveland-Cliffs.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $406,901, and 3 are calls, for a total amount of $165,991.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $16.0 to $26.5 for Cleveland-Cliffs over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $16.0 to $26.5 in 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLF | PUT | SWEEP | BEARISH | 06/20/25 | $5.85 | $5.75 | $5.85 | $22.00 | $138.6K | 743 | 1 |
| CLF | CALL | SWEEP | BULLISH | 01/17/25 | $2.4 | $2.33 | $2.39 | $17.00 | $94.6K | 3.3K | 683 |
| CLF | PUT | SWEEP | BEARISH | 10/18/24 | $5.25 | $5.15 | $5.25 | $22.00 | $85.0K | 218 | 177 |
| CLF | PUT | SWEEP | BEARISH | 10/18/24 | $3.55 | $3.5 | $3.5 | $20.00 | $70.7K | 250 | 273 |
| CLF | CALL | TRADE | BEARISH | 01/17/25 | $2.44 | $2.41 | $2.41 | $17.00 | $42.6K | 3.3K | 86 |
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.
Following our analysis of the options activities associated with Cleveland-Cliffs, we pivot to a closer look at the company's own performance.
Where Is Cleveland-Cliffs Standing Right Now?
- Trading volume stands at 4,773,900, with CLF's price down by -1.48%, positioned at $16.65.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 82 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cleveland-Cliffs options trades with real-time alerts from Benzinga Pro.