Bearish flow noted in Cleveland-Cliffs with 14,845 puts trading, or 4x expected. Most active are 10/25 weekly 11 puts and Oct-24 11 puts, with total volume in those strikes near 7,700 contracts. The Put/Call Ratio is 1.89, while ATM IV is up over 1 point on the day. Earnings are expected on October 21st.
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