Cleveland-Cliffs Inc. (CLF) Open Interest History
Open interest tracks the total number of outstanding options contracts. Rising OI alongside price moves can indicate growing commitment to the trend; declining OI suggests positions are being closed.
Cleveland-Cliffs Inc. (CLF) operates in the Basic Materials sector, specifically the Steel industry, with a market capitalization near $7.34B, listed on NYSE, employing roughly 25,000 people, carrying a beta of 2.09 to the broader market. Cleveland-Cliffs Inc. Led by C. Lourenco Goncalves, public since 1987-11-05.
Snapshot as of Oct 13, 2026.
- Spot Price
- $12.88
- Call OI
- 505.4K
- Put OI
- 273.5K
- Total OI
- 778.9K
- Put/Call Ratio
- 4.74
As of Oct 13, 2026, Cleveland-Cliffs Inc. (CLF) has 778.9K total contracts outstanding across all expirations. Put/call OI ratio is 0.54 (call-heavy positioning). Open interest reflects accumulated positions from prior sessions; persistent growth indicates sustained directional or hedging interest, while sharp drops typically mean post-expiration clean-up.
How CLF open interest history Data Feeds Strategy Selection
Strategy selection on Cleveland-Cliffs Inc. options does not derive from any single metric in isolation. The open interest history view above sits inside a broader read: ATM IV currently sits at 72.2% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the open interest history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
How to read the CLF open-interest data
The open-interest time-series below tracks the total Cleveland-Cliffs Inc. options inventory outstanding day by day. OI is a stock measure - the cumulative position count - so trends flag accumulating or distributing positioning. Current put/call ratio is 4.74, put-heavy - protective or bearish positioning dominates. Total call OI of 505.4K versus put OI of 273.5K gives a put/call OI ratio of 0.54 - structurally a slower-moving signal than the volume-based ratio.
CLF flow vs positioning
Volume tells you what flows happened today; OI tells you what positions accumulated. Both can move in opposite directions: rising volume with falling OI means contracts are being closed (covering); rising volume with rising OI means new positions are being opened. The combination matters more than either alone for reading sentiment. Combined with the current positive dealer-gamma regime, large OI clusters tend to act as price magnets through expiration cycles.
Using CLF OI/volume data alongside other surfaces
Per-strike OI is the input to dealer-gamma calculations: strikes with elevated call OI generate gamma walls that dealers must hedge into as spot approaches them. The gamma-exposure page combines this distribution with the dealers' assumed-long-gamma assumption to project hedge flow. Volume cross-checks recent positioning shifts in the chain that haven't yet shown up in cumulative OI. Pair both with the term-structure view on the volatility page to determine whether the activity is concentrated in near-dated event hedging or longer-dated structural positioning. Front-month expiration for CLF sits at 31 days, so near-dated volume currently dominates the flow reading.
Learn how open interest is reported and how to read the data →
Daily open-interest history for CLF options over the last ~30 trading days. Each row reflects the end-of-day total OI summed across all listed strikes and expirations.
Most recent 15 trading days (descending). Older history appears in the chart above.
| Date | Call OI | Put OI | Total OI | P/C OI |
|---|---|---|---|---|
| Oct 13, 2026 | 505.4K | 273.5K | 778.9K | 0.54 |
| Oct 12, 2026 | 502.4K | 272.0K | 774.4K | 0.54 |
| Oct 9, 2026 | 499.7K | 275.4K | 775.0K | 0.55 |
| Oct 8, 2026 | 494.7K | 275.3K | 770.0K | 0.56 |
| Oct 7, 2026 | 489.6K | 271.2K | 760.8K | 0.55 |
| Oct 6, 2026 | 474.2K | 268.8K | 743.1K | 0.57 |
| Oct 5, 2026 | 428.6K | 261.3K | 689.9K | 0.61 |
| Oct 2, 2026 | 431.5K | 271.6K | 703.1K | 0.63 |
| Oct 1, 2026 | 421.5K | 273.3K | 694.8K | 0.65 |
| Sep 30, 2026 | 403.2K | 271.5K | 674.7K | 0.67 |
| Sep 29, 2026 | 396.6K | 268.2K | 664.7K | 0.68 |
| Sep 28, 2026 | 392.9K | 242.4K | 635.3K | 0.62 |
| Sep 25, 2026 | 407.4K | 242.7K | 650.1K | 0.60 |
| Sep 24, 2026 | 403.3K | 242.1K | 645.4K | 0.60 |
| Sep 23, 2026 | 390.1K | 240.6K | 630.7K | 0.62 |
CLF highest open-interest contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $13.00 | Dec 18, 2026 | 165 | 55.4K | 64.7% | $1.38 | $1.43 |
| PUT | $8.00 | Jun 17, 2027 | 1 | 34.5K | 64.0% | $0.47 | $0.54 |
| CALL | $13.00 | Oct 16, 2026 | 936 | 18.4K | 69.3% | $0.25 | $0.29 |
Top 3 contracts from the institutional-grade nightly options scan; ranked by oi within the broader S&P 500/400/600 + ETF universe.
Frequently asked CLF open interest history questions
- What is the current CLF options open interest?
- As of Oct 13, 2026, Cleveland-Cliffs Inc. (CLF) has 778.9K total contracts outstanding across all listed expirations, split as 505.4K calls and 273.5K puts. Open interest reflects accumulated positions from prior trading sessions; it does not include today's volume until end-of-day reconciliation.
- What is the CLF put/call open interest ratio?
- Put/call OI ratio of 0.54 is call-heavy, often a directional bullish or upside-speculation signal.
- What does CLF open interest tell traders?
- Persistent OI growth indicates sustained directional or hedging interest; sharp drops typically mean post-expiration position cleanup. Heavy OI concentrations at specific strikes act as support and resistance levels because dealer hedging amplifies near those strikes - the gamma profile of the dealer book is concentrated there. Comparing today's volume to standing OI separates opening flow from closing flow.