Cleveland Cliffs Inc (CLF)

[greasemonkeyshoes]

2 steps forward,1 step backward...........
Q1 3 steps f, 2 step b wow
Q2 3 steps f, 2 step b wow
Q3 2 steps f, 3 steps b ooocccchhhhh
Q4 2 steps f, 1 step b wooowwwwwwwwwww
Daily volatility due to Q3/Q4 change is huge: from a depressing ER to an IO price euphoria.
Who cares?
Not if you want to make $$$$$.
What to do:
Learn volatility surfing.
With what?
Short board: OTM credit put spread
Timing?
4Q: trigger: every time it dropped below $8.75 or 15% from its high of $10.14.
Season?
Q4 16 and Q1 2017.

or
clf sp 40% down driven by the shorties are less likely,down 20% is more likely going into the future.

ps-use the money you can afford to loose.Good luck.