Cleveland-Cliffs Whale Trades For June 30
byBenzinga Insights
June 30, 2022 5:35 PM | 2 min read
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 36 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $1,240,007 and 19, calls, for a total amount of $1,861,218.
What's The Price Target?
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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 $37.0 for Cleveland-Cliffs over the last 3 months.
Volume & Open Interest Development
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 $10.0 to $37.0 in the last 30 days.
Cleveland-Cliffs Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
SymbolPUT/CALLTrade TypeSentimentExp. DateStrike PriceTotal Trade PriceOpen InterestVolumeCLFCALLSWEEPBULLISH08/19/22$18.00$604.6K3.5K10.0KCLFCALLSWEEPBULLISH01/20/23$19.00$392.4K7032.2KCLFCALLTRADEBEARISH08/19/22$21.00$250.0K11.0K10.2KCLFPUTSWEEPBULLISH10/21/22$37.00$248.6K1920CLFPUTTRADEBEARISH10/21/22$35.00$116.2K27258
Where Is Cleveland-Cliffs Standing Right Now?
With a volume of 25,941,282, the price of CLF is down -1.79% at $15.37.
RSI indicators hint that the underlying stock may be oversold.
Next earnings are expected to be released in 21 days.
What The Experts Say On Cleveland-Cliffs:
JP Morgan has decided to maintain their Overweight rating on Cleveland-Cliffs, which currently sits at a price target of $37.
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.
Posted In: BZI-UOAOptionsMarkets
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