Mixed options sentiment in Cleveland-Cliffs (CLF), with shares down 66c near $7.37. Options volume running well above average with 46k contracts traded and calls leading puts for a put/call ratio of 0.63, compared to a typical level near 0.43. Implied volatility (IV30) dropped 0.32 near 67.3,and above the 52wk median, suggesting an expected daily move of $0.31. Put-call skew steepened, indicating increased demand for downside protection.
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