Benzinga | Nov 22, 2021 12:28PM EST

This Is What Whales Are Betting On Cleveland-Cliffs

A whale with a lot of money to spend has taken a noticeably bullish stance on Cleveland-Cliffs.

Looking at options history for Cleveland-Cliffs (NYSE:CLF) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 53.85% of the investors opened trades with bullish expectations and 46.15% with bearish.

From the overall spotted trades, 4 are puts, for a total amount of $435,702.00 and 9, calls, for a total amount of $544,624.00.

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 $10.0 to $32.0 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 $32.0 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 PUT SWEEP BULLISH 12/17/ $32.00 $170.2K 385 422 21CLF CALL TRADE BULLISH 11/26/ $21.00 $169.6K 3.4K 1.3K 21CLF PUT SWEEP BULLISH 04/14/ $20.00 $139.0K 10.9K 1.9K 22CLF CALL TRADE NEUTRAL 01/21/ $10.00 $113.4K 43.5K 0 22CLF PUT SWEEP BULLISH 12/17/ $32.00 $71.0K 385 171 21

Where Is Cleveland-Cliffs Standing Right Now?

* With a volume of 10,534,391.00, the price of CLF is up 2.46% at $22.49.

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

* Next earnings are expected to be released in 94 days.

What The Experts Say On Cleveland-Cliffs:

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

* Wolfe Research downgraded its action to Outperform with a price target of $30.0

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.