Cleveland-Cliffs (CLF) Options Chain

NYSE: CLFBasic MaterialsMetal MiningUSD

12.98+0.79 (+6.48%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Oct 16, 2026
Days to expiration: 7
Share price: $12.98
Put/call ratio (OI): 0.72
Put/call ratio (volume): 2.01
ATM implied volatility: 62.3%
Expected move: ±$1.12
Open interest (C / P): 84.31K / 61.09K

CLF options summary

The CLF options chain for the October 16, 2026 expiration lists 30 call and 32 put contracts, with 7 days until expiration. Open interest stands at 84,314 calls and 61,092 puts, a put/call ratio of 0.72, which is fairly balanced between calls and puts. At-the-money implied volatility near the $13.00 strike is 62.3%, which implies the market expects a move of about ±$1.12 (8.6%) in Cleveland-Cliffs stock by expiration.

The most open interest sits at the $13.00 call (17.11K contracts) and the $11.00 put (10.34K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

CLF options chain · October 16, 2026

CLF calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
91	4	546.9%	9.65	9.85	10.20	3.00	0.00	2.12	0.01	1310.9%	3	9
6	5	650.0%	7.99	8.60	9.25	4.00	0.00	2.12	0.15	1049.2%	1	99
14	2	537.5%	7.64	7.55	8.25	5.00	0.00	0.41	0.03	500.0%	1	160
8	6	396.1%	6.64	6.80	7.15	6.00	0.00	0.01	0.02	225.0%	1	5,078
—	—	—	—	—	—	6.50	0.00	2.12	0.01	670.3%	2	0
198	26	246.9%	6.04	5.80	6.25	7.00	0.00	0.30	0.01	317.2%	2	431
2	—	356.3%	3.60	4.65	5.80	7.50	—	—	—	—	—	—
50	5	199.2%	5.05	4.85	5.20	8.00	0.00	0.03	0.01	165.6%	1	1,079
381	5	215.6%	3.98	3.80	4.15	9.00	0.00	0.01	0.01	112.5%	2	2,863
1	4	173.4%	3.51	3.30	3.90	9.50	0.00	0.01	0.01	96.9%	14	36
1,336	80	194.5%	3.15	2.40	3.25	10.00	0.00	0.01	0.01	81.3%	76	4,789
9	5	184.8%	2.47	2.05	2.82	10.50	0.00	0.04	0.05	85.9%	38	3,496
2,226	252	88.3%	2.01	1.60	2.04	11.00	0.01	0.03	0.01	69.5%	414	10,342
1,526	457	58.6%	1.51	1.42	1.60	11.50	0.04	0.07	0.04	68.4%	185	5,444
12,381	696	67.2%	1.06	1.06	1.16	12.00	0.09	0.13	0.11	63.3%	2,719	4,668
1,371	1,015	59.4%	0.73	0.64	0.76	12.50	0.22	0.29	0.25	64.8%	2,650	4,719
CLF $12.98
17,109	1,892	64.1%	0.44	0.38	0.52	13.00	0.39	0.50	0.46	60.5%	3,674	7,509
7,558	1,492	68.8%	0.34	0.23	0.34	13.50	0.67	0.85	0.76	62.1%	7,035	8,700
8,660	2,533	65.8%	0.11	0.11	0.17	14.00	1.03	1.25	1.18	62.1%	2,636	1,202
679	157	66.4%	0.08	0.06	0.08	14.50	—	—	2.19	—	—	—
12,203	198	71.9%	0.05	0.04	0.05	15.00	1.79	2.41	2.79	83.2%	4	427
215	32	71.1%	0.03	0.00	0.04	15.50	2.25	3.40	3.20	147.3%	1	14
2,909	14	81.3%	0.03	0.00	0.04	16.00	2.71	3.85	3.40	153.1%	1	21
601	70	81.3%	0.02	0.00	0.02	16.50	—	—	—	—	—	—
4,687	27	81.3%	0.01	0.00	0.01	17.00	3.75	4.65	4.23	160.9%	1	0
384	20	87.5%	0.05	0.00	0.01	17.50	4.25	5.20	5.12	178.9%	3	0
2,326	67	96.9%	0.04	0.00	0.01	18.00	4.70	5.45	5.95	139.8%	1	5
1,444	605	182.8%	0.02	0.00	0.23	19.00	5.70	6.85	6.40	223.8%	8	1
4,735	3	125.0%	0.05	0.00	0.01	20.00	6.70	7.65	7.61	214.8%	7	0
498	1	137.5%	0.06	0.00	0.01	21.00	7.70	8.85	8.62	262.1%	4	0
—	—	—	—	—	—	22.00	—	—	9.80	—	—	—
—	—	—	—	—	—	23.00	—	—	10.60	—	—	—
—	—	—	—	—	—	24.00	—	—	11.65	—	—	—
706	2	175.0%	0.05	0.00	0.01	25.00	11.70	12.85	12.70	324.2%	2	0

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the CLF put/call ratio?

For the October 16, 2026 expiration, the CLF put/call ratio based on open interest is 0.72 (61,092 puts vs 84,314 calls), and 2.01 based on today's volume. A ratio above 1 means more puts than calls.

What is CLF's implied volatility?

At-the-money implied volatility for CLF options expiring October 16, 2026 is about 62.3%, an annualized estimate of how much the market expects Cleveland-Cliffs stock to move.

How many CLF option expiration dates are there?

CLF has 15 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.