Moderately bullish activity in Cleveland-Cliffs (CLF), with shares up 70c, or 7.65%, near $9.79. Options volume nearly triple the daily average with 168k contracts traded and calls leading puts for a put/call ratio of 0.23, compared to a typical level near 0.58. Implied volatility (IV30) is higher by 1.3 points near 62.69,and below the 52wk median, suggesting an expected daily move of $0.39. Put-call skew flattened, suggesting a modestly bullish tone.
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