Core Insights - Cleveland-Cliffs Inc (NYSE:CLF) stock has seen a significant increase, rising 18.1% to $15.70, with a peak at $16.30, marking a 14-month high [1] - The company reported an adjusted third-quarter loss of 45 cents per share, which is better than the analysts' estimate of a 48 cents loss [1] - Despite revenue falling short of projections, capital expenditures were lower than expected, and demand remained strong due to tariffs from the Trump administration [2] Financial Performance - The stock has more than tripled from its five-year low of $5.63 on May 30, and is currently 65.5% higher in 2025 [2] - The company hinted at potential exploration into rare earth deposits through two mining assets [2] Market Dynamics - A short squeeze may support the stock's upward momentum, with short interest at 5.1% and 71.3 million shares sold short, accounting for 14.7% of the total float [3] - Analyst ratings show that eight out of twelve analysts maintain "hold" or worse ratings, with a 12-month consensus price target of $11.59, indicating a 26% discount to the current price [3] Options Activity - Options traders are actively buying calls, with over 72,000 contracts traded, five times the average intraday volume, and nearly triple the number of puts [4] - The November 15 call is the most popular, with new positions also being opened at the 17.50-strike [4]