Cleveland-Cliffs Inc. (CLF)
Cleveland-Cliffs Max Pain By Strike
CLF trades at $10.63, 6.3% above the near-term max pain of $10 expiring Aug 22, 2025 (3 days). Expect downward pressure as dealers benefit from price declining toward max pain. Max pain is rising across expirations ($7-$11), reflecting growing call interest at higher strikes. Key magnetic zone at 10 where 9 expirations converge. High dispersion in max pain levels suggests competing forces and potential volatility.
Cleveland-Cliffs Max Pain By Expiry
Max pain for CLF shows an upward trend from 7 to 11, suggesting bullish positioning in longer-dated options. The 43% spread signals divergent expectations across timeframes. Most levels below 10.63 may cap rallies. Strong magnetic level at 10 (9 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Aug 22, 2025 | 10 | -0.63 (-5.93%) |
| Aug 29, 2025 | 10 | -0.63 (-5.93%) |
| Sep 5, 2025 | 9.5 | -1.13 (-10.63%) |
| Sep 12, 2025 | 9.5 | -1.13 (-10.63%) |
| Sep 19, 2025 | 9 | -1.63 (-15.33%) |
| Sep 26, 2025 | 9 | -1.63 (-15.33%) |
| Oct 17, 2025 | 9 | -1.63 (-15.33%) |
| Nov 21, 2025 | 10 | -0.63 (-5.93%) |
| Dec 19, 2025 | 10 | -0.63 (-5.93%) |
| Jan 16, 2026 | 11 | 0.37 (3.48%) |
| Mar 20, 2026 | 8 | -2.63 (-24.74%) |
| Apr 17, 2026 | 10 | -0.63 (-5.93%) |
| Jun 18, 2026 | 8 | -2.63 (-24.74%) |
| Sep 18, 2026 | 10 | -0.63 (-5.93%) |
| Dec 18, 2026 | 10 | -0.63 (-5.93%) |
| Jan 15, 2027 | 8 | -2.63 (-24.74%) |
| Dec 17, 2027 | 7 | -3.63 (-34.15%) |