Decoding Cleveland-Cliffs’s Options Activity: What’s the Big Picture? – Cleveland-Cliffs (NYSE:CLF)

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 13 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 61% leaning bullish and 23% bearish. Among these notable options, 2 are puts, totaling $145,096, and 11 are calls, amounting to $425,090.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $3.0 to $10.5 for Cleveland-Cliffs over the recent three months.

Insights into Volume & Open Interest

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 $3.0 to $10.5 in the last 30 days.

Cleveland-Cliffs Call and Put Volume: 30-Day Overview