CLEVELAND-CLIFFS INC. (CLF) Options Statistics & Positioning

CLEVELAND-CLIFFS INC. (CLF) options trade at a 30-day at-the-money implied volatility of 63.4%, an IV rank of 15 out of 100 over the past year. The options market prices a ±$1.14 (±8.8%) move in CLF for the front expiration. Max pain sits at $11.5 and the put/call open interest ratio is 0.55. Statistics are computed by OptiView from delayed OPRA options data and refresh every trading day.

Data as of Oct 9, 2026, 3:55 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.

Last close

$12.96

52-week range

$7.81 – $16.14

ATM IV (30d)

63.4%

IV rank

15 / 100

Low

Expected move

±$1.14 (±8.8%)

Put/call OI

0.55

Call-heavy

Max pain

$11.5

↓ 11.2% below close

Next earnings

Oct 25, 2026

What's CLF's IV rank right now?Where's the max pain for CLF?Explain what gamma exposure means for CLF.

Most Active CLF Contracts

Contract	Expiration	DTE	Last	IV	Volume
CLF $13 call	Dec 18, 2026	70d	$1.56	67.2%	7,808
CLF $13 call	Jan 15, 2027	98d	$1.80	65.6%	7,125
CLF $13.5 put	Oct 16, 2026	7d	$0.76	63.1%	7,035
CLF $13 put	Oct 16, 2026	7d	$0.46	61.4%	3,674
CLF $12 put	Oct 16, 2026	7d	$0.11	63.5%	2,719

See all active CLF contracts →

Explore CLF Options Statistics

CLF Implied Volatility

63.4% ATM IV (30d)

An IV rank of 15 places implied volatility in the lower part of its 52-week range.

Full implied volatility analysis →

CLF Open Interest

0.55 put/call OI ratio

499,666 calls and 275,205 puts outstanding across all expirations.

Full open interest analysis →

CLF Max Pain

$11.5 max pain

11.2% below the last close — see how max pain has moved over the past year.

Full max pain analysis →

CLF Gamma Exposure

$419.88M net GEX

Positive dealer gamma — hedging currently leans against price swings.

Full gamma exposure analysis →

CLF Options Volume

82,152 contracts traded

Put/call volume ratio 0.61 — plus contracts running far above their usual volume.

Full volume & flow analysis →

CLF Most Active Options

$13 top volume strike

The 25 most actively traded CLF contracts with price, IV, greeks, and volume vs. average.

Full active contracts analysis →

Upcoming Earnings

CLF's next expected earnings date is Oct 25, 2026. Options currently price a ±$1.14 (±8.8%) move for the front expiration.

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CLF Options FAQ

When is CLF's next earnings date?

CLF's next expected earnings date is Oct 25, 2026. Options currently price a ±$1.14 (±8.8%) move for the front expiration.

How often is CLF options data on this page updated?

All CLF statistics on this page are computed by OptiView from delayed OPRA options data and refresh every trading day after the session close.

Where can I see CLF max pain, open interest, and implied volatility in detail?

OptiView publishes dedicated CLF pages for implied volatility, max pain, open interest, gamma exposure, options volume, and the most active contracts — each with charts, history, and a plain-English explanation of what the numbers mean.

Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.

Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.