La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Cleveland-Cliffs a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Cleveland-Cliffs..

Cleveland-Cliffs (NYSE:CLF) Azioni, Catena delle Opzioni

Cleveland-Cliffs

Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.

Cleveland-Cliffs Inc

Clearfield Inc

CLIFFORD MDERN IVING HLD by CLIFFORD MODERN LIVING HLDGS LTD.

CLEVELAND CLIFFS ORD

WIIM

Cleveland-Cliffs shares are trading lower following worse-than-expected Q3 financial results.

Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported financial results for the third quarter after the bell on Monday. Here&#8217;s a rundown <a href="https://www.benzinga.com/pressreleases/24/11/b41727174/cleveland-cliffs-reports-third-quarter-2024-results">of the report</a>.
<ul>
<li>Q3 Revenue: $4.57 billion, versus <a href="https://www.benzinga.com/calendars/earnings">estimates</a> of $4.77 billion</li>
</ul>
<ul>
<li>Q3 EPS: Loss of 33 cents, versus estimates for a loss of 27 cents</li>
</ul>
Steel shipments totaled 3.8 million net tons&nbsp;in the third quarter, consisting of&nbsp;36%&nbsp;hot-rolled,&nbsp;28%&nbsp;coated,&nbsp;17%&nbsp;cold-rolled,&nbsp;4%&nbsp;plate,&nbsp;4%&nbsp;stainless and electrical and&nbsp;11%&nbsp;other, including slabs and rail. 
Cleveland-Cliffs said it ended the quarter with $3.8 billion in total liquidity. 
&#8220;In&nbsp;Q3, weaker demand and pricing drove tighter margins, and ultimately led us to temporarily idle our Cleveland #6 blast furnace,&#8221; said&nbsp;Lourenco Goncalves, chairman, president and CEO of Cleveland-Cliffs.
&#8220;We achieved our lowest unit cost since 2021, exceeding our already aggressive cost reduction targets, but that was not enough to offset the negative impact of two of our top four automotive clients who continue to underperform their own expectations. Due to our high exposure to the automotive sector, Cliffs was more affected than our competitors.&#8221;
See Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/11/41724410/nvidia-joining-dow-jones-industrial-average-where-tech-giant-ranks-in-the-index-why-sh">Nvidia Joining Dow Jones Industrial Average: Where Tech Giant Ranks In The Index, Why Sherwin-Williams Addition Could Be More Important</a>
Cleveland-Cliffs highlighted its recent acquisition of Stelco. The company said Stelco&#8217;s assets are well-capitalized and it expects to benefit from the company&#8217;s cost advantages and strong business model on day one. Cleveland-Cliffs noted Stelco&#8217;s business has &#8220;virtually no exposure&#8221; to the automotive sector. 
Outlook: Cleveland-Cliffs lowered its capital expenditures outlook for full year 2024 from a range of $650 million to $700 million to a new range of $600 million to $650 million.
&#8220;We expect steel demand to rebound in early 2025, supported by a number of economic and political factors. With Stelco&#8217;s assets and our cost reductions, we&#8217;re well-positioned to capitalize on this upswing and will be able to reduce acquisition debt quickly with healthy free cash flow,&#8221; Goncalves added.
Management will hold a conference call to further discuss the company&#8217;s third-quarter results Tuesday morning at 8:30 a.m. ET.
CLF Price Action: <a href="https://www.benzinga.com/quote/CLF" target="_blank" rel="noreferrer noopener">Cleveland-Cliffs shares</a> were down 4.04% after hours at $12.58 at the time of publication, according to <a href="http://pro.benzinga.com" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: Janno Nivergall from Pixabay.

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Movers

Cleveland-Cliffs Q3 Earnings: Revenue, EPS Miss On 'Weaker Demand And Pricing,' Shares Slide

Cleveland-Cliffs Reduces 2024 Capital Expenditure Forecast By $50M To New Range Of $600M-$650M

Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) reported quarterly losses of $(0.33) per share which missed the analyst consensus estimate of $(0.27) by 22.22 percent. The company reported quarterly sales of $4.57 billion which missed the analyst consensus estimate of $4.77 billion by 4.21 percent. This is a 18.48 percent decrease over sales of $5.61 billion the same period last year.

Earnings Misses

Cleveland-Cliffs Q3 2024 Adj EPS $(0.33) Misses $(0.27) Estimate, Sales $4.57B Miss $4.77B Estimate

As <a href="https://www.benzinga.com/topic/2024-presidential-election">Election Week 2024</a> is upon us, Wall Street is geared up for sector-specific shakeups, with JPMorgan's Bill Peterson spotlighting a decisive split in potential stock moves.
With a Democratic win likely to power up the clean energy sector and a Donald Trump victory poised to boost steel, the stakes are high for investors in metals, mining and clean tech.
<h1 class="wp-block-heading">A Harris Win: Green Light For Clean Tech Rally?</h1>
Should Vice-President Kamala Harris take the White House, expect a boost across clean tech stocks, especially those linked to electric vehicles (EV) and hydrogen.
Peterson points to EVgo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>), ChargePoint Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NASDAQ">CHPT</a>) and lithium players like Lithium Americas Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAC#NYSE">LAC</a>) and Piedmont Lithium Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) as likely to benefit from sustained clean energy initiatives.
Stocks like Plug Power Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) could also rally, riding on investor confidence that government spending won't dry up for sectors heavily backed by the Inflation Reduction Act and the Department of Energy's Loan Programs Office.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41713236/donald-trumps-return-to-white-house-could-propel-these-etfs-to-new-highs">Donald Trump&#8217;s Return To White House Could Propel These ETFs To New Highs</a>
<h1 class="wp-block-heading">Trump's Win: Steel's Comeback With A Dose Of Protectionism</h1>
A Trump victory could be a bullish setup for the steel sector, especially for domestic players like Nucor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>), Steel Dynamics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>), and Cleveland-Cliffs Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), which would benefit from protectionist policies supporting U.S. steel pricing.
Peterson highlights that Trump's stance against the proposed acquisition of U.S. Steel by Nippon Steel Corp (OTCPK: NISTF) could keep the spotlight on domestic operators, while Trade Expansion Act Section 232 tariffs could make U.S. steel prices attractive.
Kaiser Aluminum Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KALU#NASDAQ">KALU</a>) stands to gain over Constellium SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CSTM#NYSE">CSTM</a>) if more tariffs come into play, thanks to Kaiser&#8217;s U.S. footprint.
<h1 class="wp-block-heading">Rare Earths &amp; Base Metals: Supply Security Takes The Stage</h1>
Regardless of the outcome, Western supply chain security remains a hot-button issue, favorably positioning rare earth and graphite players like MP Materials Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>) and GrafTech International Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EAF#NYSE">EAF</a>).
For base metals, names like Alcoa Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>) and Freeport-McMoRan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) may see an impact from intensified China tariffs, with pricing ripple effects dependent on global stimulus responses.
With the election outcome set to shape market dynamics, these sectors have distinct paths forward. For now, it's a wait-and-see game for investors in metals, mining, and clean tech.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41650250/harris-vs-trump-crypto-industry-anticipates-favorable-regulatory-environment-for-bi">Harris Vs Trump: Crypto Industry Anticipates &#8216;Favorable Regulatory Environment&#8217; For Bitcoin And Other Digital Assets After Elections</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Politics

Markets

Trading Ideas

CHPT

CSTM

EVGO

KALU

NISTF

PLUG

STLD

Trump Vs. Harris: EVgo, Cleveland-Cliffs, Plug Power, Nucor Brace For 2024 Election Impact

Cleveland-cliffs Announced That It Has Received Regulatory And Program Approvals Under The Investment Canada Act And Strategic Innovation Fund, The Final Approvals Needed To Complete Pending Acquisition Of Stelco Holdings Inc.

Investors with a lot of money to spend have taken a bullish stance on Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CLF, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 10 uncommon options trades for Cleveland-Cliffs.
This isn't normal.
The overall sentiment of these big-money traders is split between 70% bullish and 30%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $57,783, and 8 are calls, for a total amount of $254,366.
<h3>Expected Price Movements</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $9.0 and $17.0 for Cleveland-Cliffs, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cleveland-Cliffs's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cleveland-Cliffs's substantial trades, within a strike price spectrum from $9.0 to $17.0 over the preceding 30 days.
<h3>Cleveland-Cliffs 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730133050_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$0.66</td>
<td>$0.62</td>
<td>$0.66</td>
<td>$14.00</td>
<td>$40.7K</td>
<td>1.0K</td>
<td>3.7K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$0.67</td>
<td>$0.63</td>
<td>$0.67</td>
<td>$14.00</td>
<td>$33.5K</td>
<td>1.0K</td>
<td>5.7K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$0.66</td>
<td>$0.63</td>
<td>$0.66</td>
<td>$14.00</td>
<td>$33.0K</td>
<td>1.0K</td>
<td>5.2K</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.17</td>
<td>$0.15</td>
<td>$0.17</td>
<td>$9.00</td>
<td>$30.1K</td>
<td>4.2K</td>
<td>3.4K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/08/24</td>
<td>$0.61</td>
<td>$0.59</td>
<td>$0.6</td>
<td>$14.00</td>
<td>$30.0K</td>
<td>1.0K</td>
<td>2.3K</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
Following our analysis of the options activities associated with Cleveland-Cliffs, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of Cleveland-Cliffs</h3>
<ul>
<li>Trading volume stands at 3,407,636, with CLF's price up by 3.86%, positioned at $13.57.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 7 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cleveland-Cliffs with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Looking At Cleveland-Cliffs's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bearish stance on Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CLF, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 9 uncommon options trades for Cleveland-Cliffs.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 55%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $56,110, and 7 are calls, for a total amount of $226,775.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $8.0 to $16.0 for Cleveland-Cliffs over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
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 $8.0 to $16.0 in the last 30 days. 
<h3>Cleveland-Cliffs Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729696532_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.45</td>
<td>$4.4</td>
<td>$4.4</td>
<td>$9.00</td>
<td>$54.1K</td>
<td>163</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$2.62</td>
<td>$2.5</td>
<td>$2.59</td>
<td>$11.00</td>
<td>$31.0K</td>
<td>1.5K</td>
<td style="text-align: right;">120</td>
</tr>
<tr>
<td>CLF</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$3.1</td>
<td>$3.05</td>
<td>$3.1</td>
<td>$16.00</td>
<td>$31.0K</td>
<td>1.9K</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.64</td>
<td>$2.54</td>
<td>$2.58</td>
<td>$11.00</td>
<td>$30.9K</td>
<td>1.5K</td>
<td style="text-align: right;">489</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.64</td>
<td>$2.54</td>
<td>$2.58</td>
<td>$11.00</td>
<td>$30.9K</td>
<td>1.5K</td>
<td style="text-align: right;">129</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
<h3>Current Position of Cleveland-Cliffs</h3>
<ul>
<li>With a trading volume of 1,273,643, the price of CLF is down by -0.26%, reaching $13.43.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 12 days from now.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Cleveland-Cliffs with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Cleveland-Cliffs's Options: A Look at What the Big Money is Thinking

Cleveland-Cliffs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) short percent of float has risen 6.1% since its last report. The company recently reported that it has 48.12 million shares sold short, which is 13.39% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.4 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Cleveland-Cliffs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729183512_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Cleveland-Cliffs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Cleveland-Cliffs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Cleveland-Cliffs's peer group average for short interest as a percentage of float is 4.10%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Cleveland-Cliffs?

Cleveland-Cliffs Announced That It Has Received A "no-action Letter" From The Canadian Competition Bureau Confirming That The Commissioner Of Competition Does Not Intend To Challenge Cliffs' Pending Acquisition Of Stelco Holdings

The 2029 Notes will bear interest at an annual rate of&nbsp;6.875%&nbsp;and will be issued at par.&nbsp;The 2033 Notes will bear interest at an annual rate of&nbsp;7.375%&nbsp;and will be issued at par.
The Notes offering is expected to close on October 22, 2024, subject to the satisfaction of customary closing conditions.
Cliffs intends to use the net proceeds from the Notes offering to finance a portion of the cash consideration payable in connection with the previously announced acquisition of Stelco Holdings Inc., which Cliffs expects to complete in the&nbsp;fourth quarter&nbsp;of 2024 following the satisfaction or waiver of applicable conditions.&nbsp;

Offerings

Cleveland-Cliffs Upsizes And Prices $900M Of Senior Guaranteed Notes Due 2029 And $900M Of Senior Guaranteed Notes Due 2033

Stelco Holdings Inc. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/STLC#TSX">STLC</a>) ("Stelco" or the "Company") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with its pending sale to Cleveland-Cliffs Inc. The expiration of the HSR Act waiting period clears an important regulatory hurdle and marks a significant step toward the closing of the sale of Stelco, which is expected to occur in the fourth quarter of 2024 following the satisfaction or waiver of other customary closing conditions and approvals.

TSX:STLC

U.S. Antitrust Review For Cleveland-Cliffs' Acquisition Of Stelco Waiting Period Expires

Cleveland-Cliffs's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) short percent of float has risen 15.36% since its last report. The company recently reported that it has 45.35 million shares sold short, which is 12.62% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.72 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Cleveland-Cliffs Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727792120_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Cleveland-Cliffs has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Cleveland-Cliffs's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Cleveland-Cliffs's peer group average for short interest as a percentage of float is 4.71%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Cleveland-Cliffs's Recent Short Interest

Investors with a lot of money to spend have taken a bearish stance on Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CLF, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for Cleveland-Cliffs.
This isn't normal.
The overall sentiment of these big-money traders is split between 10% bullish and 80%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $31,900, and 9, calls, for a total amount of $507,213.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.0 to $20.0 for Cleveland-Cliffs over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Cleveland-Cliffs's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Cleveland-Cliffs's substantial trades, within a strike price spectrum from $8.0 to $20.0 over the preceding 30 days.
<h3>Cleveland-Cliffs Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727381819_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$6.25</td>
<td>$6.2</td>
<td>$6.2</td>
<td>$8.00</td>
<td>$139.5K</td>
<td>1.2K</td>
<td>226</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$0.72</td>
<td>$0.7</td>
<td>$0.7</td>
<td>$13.00</td>
<td>$80.7K</td>
<td>14.9K</td>
<td>3.6K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.15</td>
<td>$0.13</td>
<td>$0.15</td>
<td>$15.00</td>
<td>$62.3K</td>
<td>12.7K</td>
<td>5.9K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/27/24</td>
<td>$0.31</td>
<td>$0.27</td>
<td>$0.27</td>
<td>$13.00</td>
<td>$54.4K</td>
<td>9.6K</td>
<td>2.9K</td>
</tr>
<tr>
<td>CLF</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$0.71</td>
<td>$0.69</td>
<td>$0.7</td>
<td>$13.00</td>
<td>$52.3K</td>
<td>14.9K</td>
<td>7.5K</td>
</tr>
</tbody>
</table>

<h3>About Cleveland-Cliffs</h3>
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America. It is organized into four operating segments based on differentiated products, Steelmaking, Tubular, Tooling and Stamping and European Operations, but operates through one reportable segment -Steelmaking. It is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling and tubing. It serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Geographically, it operates in the United States, Canada and other countries. The majority of revenue is from the United States. It is a supplier of steel to the automotive industry in North America.
Following our analysis of the options activities associated with Cleveland-Cliffs, we pivot to a closer look at the company's own performance.
<h3>Current Position of Cleveland-Cliffs</h3>
<ul>
<li>With a volume of 13,492,521, the price of CLF is up 4.0% at $12.74. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 25 days.</li>
</ul>
<h3>Professional Analyst Ratings for Cleveland-Cliffs</h3>
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $13.666666666666666.
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&#x2A; An analyst from Citigroup has decided to maintain their Neutral rating on Cleveland-Cliffs, which currently sits at a price target of $12. 
&#x2A; An analyst from Morgan Stanley persists with their Equal-Weight rating on Cleveland-Cliffs, maintaining a target price of $15. 
&#x2A; An analyst from Morgan Stanley persists with their Equal-Weight rating on Cleveland-Cliffs, maintaining a target price of $13. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Cleveland-Cliffs options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

This Is What Whales Are Betting On Cleveland-Cliffs

U.S. metals and mining stocks posted their strongest one-day rally of 2024 on Tuesday, driven by China&#8217;s unexpected <a href="https://www.benzinga.com/markets/asia/24/09/41003814/chinese-stocks-jump-as-central-bank-unveils-major-stimulus-to-spur-economy-a-step-in-the-right-direc">and substantial monetary easing. </a>
The People&#8217;s Bank of China&#8217;s (PBoC) stimulus measures, including cuts to the reserve requirement ratio and repo rates, boosted global demand for raw materials, sparking a surge in metal prices and mining stocks.
The SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) surged 4.2%, marking its best one-day performance since November 2023. The move reflected heightened optimism in the sector, which benefits heavily from demand in China, the world's largest consumer of raw materials.
<h3 class="wp-block-heading">Chart: Metals &amp; Mining Stocks Mark Best Day In Almost A Year</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="371" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24101235/image-190-1024x371.png" alt="" class="wp-image-563348" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24101235/image-190-1024x371.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24101235/image-190-300x109.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24101235/image-190-768x278.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24101235/image-190-1536x556.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24101235/image-190.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image: <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent092424&amp;t=be2bearmibe3na1">Benzinga Pro</a></figcaption></figure>
<h3 class="wp-block-heading">Precious, Industrial Metals Shine</h3>
Gold prices hit yet another fresh record on Tuesday, rising 0.3% to $2,638 per ounce, the highest in history, as the metal benefited from expectations of higher liquidity from global central banks. 
The People&#8217;s Bank of China&#8217;s 50-basis-point cut to the reserve requirement ratio is expected to boost bank lending, while the reduction in key interest rates provides relief to heavily indebted sectors. This move is also seen as a strong signal that further monetary easing may be on the horizon.
Silver jumped 1.2%, while copper saw an even bigger rally, surging over 3%. The broad gains in metals prices were driven by expectations of increased Chinese demand, as the country&#8217;s easing measures are aimed at stimulating domestic economic activity.
Last week, the Federal Reserve slashed interest rates by 50 basis points to 4.75%-5%, offering another strong tailwind to metal commodities. 
<h3 class="wp-block-heading">Mining Stocks, ETFs Post Gains</h3>
Mining-related stocks and ETFs are enjoying strong performance Tuesday. The Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>) climbed over 6%, reflecting the sharp increase in copper prices, while the Global X Silver Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIL#NYSE">SIL</a>) rose 2%.
Here's a look at the five strongest performers within the SPDR S&amp;P Metals &amp; Mining ETF stocks on Tuesday
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Company</th>
<th>Price</th>
<th>1-Day Return</th>
</tr>
</thead>
<tbody>
<tr>
<td>MP Materials Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MP#NYSE">MP</a>)</td>
<td>$15.72</td>
<td>+10.48%</td>
</tr>
<tr>
<td>Ramaco Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/METC#NYSE">METC</a>)</td>
<td>$11.04</td>
<td>+8.83%</td>
</tr>
<tr>
<td>Warrior Met Coal, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCC#NYSE">HCC</a>)</td>
<td>$59.94</td>
<td>+7.81%</td>
</tr>
<tr>
<td>Alcoa Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>)</td>
<td>$36.78</td>
<td>+7.45%</td>
</tr>
<tr>
<td>Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>)</td>
<td>$12.74</td>
<td>+7.36%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 10:30 a.m. ET Photo via Shutterstock. </figcaption></figure>

Asia

Large Cap

Mid Cap

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Small Cap

Tech

ETFs

BABA

COPX

KWEB

METC

Gold Breaks Records On China's Policy Stimulus: Mining, Metal Stocks Exhibit Strongest 1-Day Rally In 2024

VALE

Shares of metals and materials companies are trading higher. Strength may be due to China's stimulus measures, which could support demand.

Morgan Stanley analyst Carlos De Alba maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Equal-Weight and lowers the price target from $15 to $13.5.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Cleveland-Cliffs, Lowers Price Target to $13.5

Morgan Stanley analyst Carlos De Alba maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Equal-Weight and maintains $15 price target.

Morgan Stanley Maintains Equal-Weight on Cleveland-Cliffs, Maintains $15 Price Target

Rumors

Watching Cleveland-Cliffs; Traders Circulate Analyst Comments Suggesting The Co Is Raising The Price On HRC By $20/T

Cleveland-Cliffs Inc. (NYSE:<a href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) ("Cliffs")is pleased to announce that the holders of common shares (the "Shareholders") of Stelco Holdings Inc. (TSX:<a href="https://www.benzinga.com/stock/STLC#TSX">STLC</a>) ("Stelco") voted in favor of, and overwhelmingly approved, the special resolution (the "Arrangement Resolution") regarding the previously announced indirect acquisition of Stelco by Cliffs at a special meeting of the Shareholders held earlier today (the "Stelco Meeting"). The Arrangement Resolution received support of 99.97% of the total votes cast for the Arrangement Resolution. The transaction is expected to close in the fourth quarter of 2024. Upon closing of the transaction, which remains subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement, Stelco is expected to continue as a wholly-owned subsidiary of Cliffs.

Cleveland-Cliffs Announces Shareholder Approval Of Arrangement To Acquire Stelco

Cleveland-Cliffs Q3 2024 Earnings Preview

Earnings week ahead: O, PLTR, QCOM, SQ, AMC, PARA, LCID, RIVN, WBD, and more

Pre-earnings options volume in Cleveland-Cliffs (CLF) is normal with calls leading puts 7:4. Implied volatility suggests the market is anticipating...

Cleveland-Cliffs options imply 9.9% move in share price post-earnings

Cleveland-Cliffs Non-GAAP EPS of -$0.33 misses by $0.02, revenue of $4.6B misses by $120M

The company said, "For 2025, we've set a much lower capital budget, even after including the strategic projects that are expected to boost annual E...

Cleveland-Cliffs expects steel demand to rebound in early 2025

Shares of Cleveland-Cliffs ($CLF) fell in after-hours trading after the steelmaker reported earnings for its third quarter of Fiscal Year 2024. Ear...

CLF Earnings: Cleveland-Cliffs Falls after Disappointing Q3 Results

Earnings Snapshot: Cleveland-Cliffs misses Q3 estimates; expects steel demand rebound in 2025

Cleveland-Cliffs in charts: Steel sales volume dips, gross margin turns negative in Q3

Check out this evening's top movers from around Wall Street, compiled by The Fly.&nbsp;&nbsp; HIGHER AFTER EARNINGS – QuinStreet&nbsp;(QNST)&nbsp;u...

Closing Bell Movers: Palantir jumps 13% after results

Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Chemours Company (CC – Research Report), Cleveland-...

Analysts Have Conflicting Sentiments on These Materials Companies: Chemours Company (CC), Cleveland-Cliffs (CLF) and Syrah Resources (OtherSYAAF)

ABNB

AFRM

ALAB

ANET

ATUS

BLNK

BNTX

BOOM

BOWL

BYND

CRSP

CRUS

CTVA

DDOG

DKNG

DLTR

EVER

FANG

FWRD

GILD

GKOS

HDSN

HIMS

HOLX

ILMN

LCID

LSCC

LUMN

LYFT

MAIN

MARA

MRNA

NVAX

NXPI

OPEN

PARA

PINS

PLTR

QCOM

QNST

RIVN

SEDG

SLAB

SONY

SPCE

SYAAF

TEVA

TTWO

TWLO

UPST

VMEO

VRTX

VTRS

WYNN

Press Releases

Cleveland-Cliffs and United Steelworkers to Host Senior U.S. Government Officials at its Coatesville, Pennsylvania Steel Plant

Cleveland-Cliffs Clears U.S. Department of Justice Antitrust Review for the Acquisition of Stelco

Cleveland-Cliffs Inc. Announces Proposed Offering of Senior Unsecured Guaranteed Notes

Cleveland-Cliffs Inc. Announces Upsizing and Pricing of Senior Unsecured Guaranteed Notes

Cleveland-Cliffs Receives Canadian Competition Bureau Clearance for the Acquisition of Stelco

Cleveland-Cliffs to Announce Third-Quarter 2024 Earnings Results on November 4 and Host Conference Call on November 5

Cleveland-Cliffs Receives Final Approvals for Stelco Acquisition and Sets Closing Date for Friday, November 1, 2024

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

Cleveland-Cliffs Completes Acquisition of Stelco

Cleveland-Cliffs Reports Third-Quarter 2024 Results

SPGI

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Alpha Metallurgical

Commercial Metals

Carpenter Technology Corporation Common Stock

Carpenter Tech

Gerdau

Haynes International, Inc. - Common Stock

Haynes Intl

Warrior Met Coal

Ramaco Resources, Inc. - Class A Common Stock

Ramaco Resources

Ramaco Resources, Inc. - Class B Common Stock

ArcelorMittal

Metallus

Nucor

POSCO HOLDINGS INC. American Depositary Shares (Each representing 1/4th of a share of Common Stock)

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Radius Recycling, Inc. - Class A Common Stock

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Companhia Siderurgica Nacional S.A. Common Stock

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Ternium S.A. Ternium S.A. American Depositary Shares (each representing ten shares, USD1.00 par value)

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Cleveland-Cliffs (NYSE:CLF) Azioni, Catena delle Opzioni

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