Moderately bullish activity in Cleveland-Cliffs (CLF), with shares up 14c, or 1.42%, near $10.37. Options volume relatively light with 23k contracts traded and calls leading puts for a put/call ratio of 0.17, compared to a typical level near 0.61. Implied volatility (IV30) is higher by 0.4 points near 66.37,and below the 52wk median, suggesting an expected daily move of $0.43. Put-call skew steepened, indicating increased demand for downside protection.
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