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 $6.99B, listed on NYSE, employing roughly 25,000 people, carrying a beta of 2.12 to the broader market. Cleveland-Cliffs Inc. Led by C. Lourenco Goncalves, public since 1987-11-05.
Snapshot as of Aug 14, 2026.
- Spot Price
- $11.95
- Call OI
- 510.8K
- Put OI
- 248.8K
- Total OI
- 759.7K
- Put/Call Ratio
- 0.41
As of Aug 14, 2026, Cleveland-Cliffs Inc. (CLF) has 759.7K total contracts outstanding across all expirations. Put/call OI ratio is 0.49 (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 54.8% 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 above 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 0.41, call-heavy - speculative or bullish positioning dominates. Total call OI of 510.8K versus put OI of 248.8K gives a put/call OI ratio of 0.49 - 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 28 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 ~31 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 |
|---|---|---|---|---|
| Aug 14, 2026 | 510.8K | 248.8K | 759.7K | 0.49 |
| Aug 13, 2026 | 508.9K | 247.7K | 756.6K | 0.49 |
| Aug 12, 2026 | 507.6K | 246.3K | 753.8K | 0.49 |
| Aug 11, 2026 | 498.9K | 244.7K | 743.6K | 0.49 |
| Aug 10, 2026 | 489.4K | 242.8K | 732.2K | 0.50 |
| Aug 7, 2026 | 508.2K | 276.0K | 784.2K | 0.54 |
| Aug 6, 2026 | 498.0K | 274.5K | 772.5K | 0.55 |
| Aug 5, 2026 | 493.6K | 248.5K | 742.1K | 0.50 |
| Aug 4, 2026 | 487.3K | 238.7K | 726.0K | 0.49 |
| Aug 3, 2026 | 481.8K | 218.7K | 700.5K | 0.45 |
| Jul 31, 2026 | 510.7K | 231.9K | 742.6K | 0.45 |
| Jul 30, 2026 | 509.9K | 229.6K | 739.5K | 0.45 |
| Jul 29, 2026 | 500.0K | 228.1K | 728.1K | 0.46 |
| Jul 28, 2026 | 495.3K | 222.5K | 717.8K | 0.45 |
| Jul 27, 2026 | 484.6K | 214.2K | 698.8K | 0.44 |
CLF highest open-interest contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $12.00 | Sep 18, 2026 | 1.6K | 18.6K | 56.0% | $0.81 | $0.83 |
Top 1 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 Aug 14, 2026, Cleveland-Cliffs Inc. (CLF) has 759.7K total contracts outstanding across all listed expirations, split as 510.8K calls and 248.8K 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 0.49 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.