Steel Stock Extends Recovery Amid Emerging Support

Core Insights - Cleveland-Cliffs Inc (NYSE:CLF) has seen a 2.1% increase in stock price, trading at $10.96, following a bounce off the $10 level, which coincides with the 126-day moving average that has historically captured several pullbacks [1] - The stock is currently up 16.2% for 2025 but remains significantly below its two-year high of $16.70 reached on October 20 [1] Short Interest - Short interest in Cleveland-Cliffs has decreased by 14% over the last two reporting periods, representing 10.9% of the stock's total available float [3] - At the average trading pace, it would take short sellers more than two days to cover these positions [3] Options Market - Options for Cleveland-Cliffs are currently considered affordable, with a Schaeffer's Volatility Index (SVI) of 67%, placing it in the 20th percentile of annual readings [4] - The company tends to outperform options traders' volatility expectations, as indicated by a Schaeffer's Volatility Scorecard (SVS) of 74 out of 100 [4]