Cleveland-Cliffs Stock Sharply Lower After Disappointing Q4

Group 1 - Cleveland-Cliffs Inc reported wider-than-expected fourth-quarter losses of 68 cents per share and missed revenue expectations, leading to a 9.1% decline in stock price to $10.13 [1] - The stock is experiencing its worst daily percentage loss since a previous drop of 11.5$8.99 [2] - Demand for steel remains cautious, influenced by the early stages of Trump's tariffs and a potential merger between Nippon Steel and U.S. Steel [1] Group 2 - In the options market, there has been significant activity with 21,000 calls and 11,000 puts exchanged, which is double the typical volume [3] - The most popular options are the weekly 2/28 10.50-strike and 12-strike calls, with new positions being opened at the May 12 call [3] Group 3 - Short interest has decreased by 8.2% over the last two weeks but still represents 8.7% of the stock's available float, indicating a potential for covering [4] - It would take approximately three days for shorts to cover at the average trading pace of Cleveland-Cliffs [4]