CLF Cleveland-Cliffs Options Ahead of EarningsAnalyzing the options chain and the chart patterns of CLF Cleveland-Cliffs prior to the earnings report this week,
I would consider purchasing the 14usd strike price Calls with
an expiration date of 2023-11-17,
for a premium of approximately $1.29.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Cleveland-cliffs
8/24/22 CLFCleveland-Cliffs Inc. ( NYSE:CLF )
Sector: Non-Energy Minerals (Steel)
Current Price: $18.24
Breakout Price: $19.00
Buy Zone (Top/Bottom Range): $18.00-$16.00
Price Target: $21.50-$22.00 (1st), $24.00-$24.40 (2nd)
Estimated Duration to Target: 34-37d (1st), 60-65d (2nd)
Contract of Interest: $CLF 9/23/22 20c, $CLF 10/21/22
Trade price as of publish date: $0.54/contract, $1.05/contract
10/24/21 CLFCleveland-Cliffs Inc. ( NYSE:CLF )
Sector: Non-Energy Minerals (Steel)
Current Price: $23.85
Breakout price trigger: $22.45 (hold above)
Buy Zone (Top/Bottom Range): $23.40-$21.80
Price Target: $28.00-$28.60
Estimated Duration to Target: 28-31d
Contract of Interest: $CLF 11/19/21 24c
Trade price as of publish date: $1.30/cnt
PT 26.80 for this cycle.NYSE:CLF
It is just a stopover on a long journey. Going to close my leveraged long position when price reaches 26.80, then wait for a pullback to buy again!
There is a significant open interest on options call 25 expiring at 2021-07-16, so I believe that the price should be at least 25 by that time.
I have noticed that NYSE:CLF is attracting the attention of WSB guys again, so we can expect another pump.
People may want to fix the profit before an earnings report.
Everything fits into price corridor