Option Greeks measure how Cleveland-Cliffs Inc (CLF) option prices respond to changes in the stock price (delta and gamma), the passage of time (theta), implied volatility (vega), and interest rates (rho). These charts plot each Greek by strike, so you can see where an expiration's price risk, time decay, and volatility exposure are concentrated. CLF implied volatility is near the middle of its one-year range, so delta and gamma cover about their usual range of strikes.
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CLF Option Greeks FAQ
What are option Greeks?
Option Greeks measure how an option's price responds to changes in the stock price (delta and gamma), time (theta), implied volatility (vega), and interest rates (rho).
How do I read the CLF Greeks charts?
Gamma, theta, and vega are largest for strikes near the Cleveland-Cliffs stock price and shrink for strikes far above or below it. Theta grows as expiration gets closer, while vega is larger for expirations further out. Call delta runs from 0 to 1 and put delta from -1 to 0, near 0.50 and -0.50 at the money, and roughly estimates the chance that an option finishes in the money.
How does implied volatility affect CLF's Greeks?
Cleveland-Cliffs IV rank is 47, so implied volatility is near the middle of its one-year range. Higher implied volatility raises option premiums and daily time decay (theta), and spreads delta and gamma across a wider range of strikes. Over the past year, 30-day implied volatility ranged from 49.5% to 86.7%. See the CLF implied volatility history for a longer view.
How much gamma and delta do CLF options carry in total?
Across all open Cleveland-Cliffs options on Nov 4, 2026, net gamma exposure was $2.11M and net delta exposure was $119.23M per 1% move in the stock. The CLF gamma exposure chart shows where that gamma sits by strike.
What is Cleveland-Cliffs Inc?
Cleveland-Cliffs Inc is a flat-rolled steel producer and manufacturer of iron ore pellets in North America.