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 $6.27B, listed on NYSE, employing roughly 30,000 people, carrying a beta of 2.01 to the broader market. Cleveland-Cliffs Inc. Led by C. Lourenco Goncalves, public since 1987-11-05.
Snapshot as of May 15, 2026.
- Spot Price
- $10.27
- Call OI
- 482.1K
- Put OI
- 222.3K
- Total OI
- 704.5K
- Put/Call Ratio
- 0.61
As of May 15, 2026, Cleveland-Cliffs Inc. (CLF) has 704.5K total contracts outstanding across all expirations. Put/call OI ratio is 0.46 (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 63.5% 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.
Learn how open interest is reported and how to read the data →
CLF highest open-interest contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $22.00 | Jan 15, 2027 | 8 | 24.1K | 67.4% | $0.34 | $0.36 |
| CALL | $12.00 | Jun 18, 2026 | 647 | 21.0K | 64.1% | $0.27 | $0.29 |
| CALL | $10.00 | Jun 18, 2026 | 4.5K | 18.5K | 64.2% | $0.94 | $0.99 |
| CALL | $13.00 | Jun 18, 2026 | 88 | 17.1K | 65.8% | $0.14 | $0.17 |
Top 4 contracts from the ORATS-sourced nightly 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 May 15, 2026, Cleveland-Cliffs Inc. (CLF) has 704.5K total contracts outstanding across all listed expirations, split as 482.1K calls and 222.3K 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 0.46 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.