Benzinga | Nov 2, 2021 12:29PM EDT

Looking At Cleveland-Cliffs's Recent Whale Trades

Benzinga's options scanner just detected over 12 options trades for Cleveland-Cliffs (NYSE:CLF) summing a total amount of $958,318.

At the same time, our algo caught 2 for a total amount of 249,240.

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 $20.0 to $35.0 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 $20.0 to $35.0 in the last 30 days.

Cleveland-Cliffs Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestCLF CALL TRADE BULLISH 04/14/ $30.00 $319.5K 4.7K 5.0K 22CLF PUT SWEEP BULLISH 04/14/ $32.00 $206.0K 375 209 22CLF CALL TRADE NEUTRAL 04/14/ $30.00 $133.3K 4.7K 2.2K 22CLF CALL SWEEP BULLISH 01/21/ $28.00 $82.6K 14.6K 371 22CLF CALL SWEEP BULLISH 04/14/ $35.00 $79.0K 7.5K 1.5K 22

Where Is Cleveland-Cliffs Standing Right Now?

* With a volume of 12,503,535, the price of CLF is down -2.22% at $22.71.

* RSI indicators hint that the underlying stock may be approaching overbought.

* Next earnings are expected to be released in 114 days.

What The Experts Say On Cleveland-Cliffs:

* Goldman Sachs upgraded its action to Buy with a price target of $24.0

* Morgan Stanley has decided to maintain their Equal-Weight rating on Cleveland-Cliffs, which currently sits at a price target of $22.5.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.