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Cleveland-Cliffs Inc CLF 12.84 -1.3 -9.19%

Previous-day view · Wed Nov 4 close. You are previewing the previous trading day. Subscribe to see today live and every other date — Trader is $59/mo. Sign up Sign in

Expected move

November 04, 2026 close · $12.86
Horizon Expected move Typical range 2 in 3 closes 9 in 10 closes
Next session ±3.4% ±$0.43 $12.42 – $13.29 $12.33 – $13.38 $11.91 – $13.80
2 sessions ±4.8% ±$0.62 $12.24 – $13.47 $12.11 – $13.60 $11.54 – $14.17
3 sessions ±5.7% ±$0.73 $12.12 – $13.59 $11.98 – $13.73 $11.29 – $14.42
1 week ±7.0% ±$0.89 $11.96 – $13.75 $11.76 – $13.95 $10.94 – $14.77
2 weeks ±9.5% ±$1.22 $11.63 – $14.08 $11.34 – $14.37 $10.24 – $15.47
3 weeks ±11.7% ±$1.50 $11.35 – $14.36 $10.98 – $14.73 $9.67 – $16.04
1 month ±13.5% ±$1.73 $11.12 – $14.59 $10.69 – $15.02 $9.18 – $16.53
Size, not direction. The 68% and 90% bands held 66–68% and 89–90% of closes in held-out years 2019–2026. Draw the cone on the chart →

Volatility premium

Beta
The forecast is for the current session, which this plan does not open.

Earnings: priced against what happened

Average implied move
±10.45%
Average actual move
10.93%
Beyond the implied move
4 / 6
Median IV change
-13.49%
Reaction session Implied Actual Used ATM IV before → after
October 19, 2026 ±13.29% +16.05% 1.21× —
July 23, 2026 ±11.59% +15.98% 1.38× —
April 20, 2026 ±11.92% -2.11% 0.18× —
July 21, 2025 ±9.12% +12.45% 1.36× 73.7% → 66.9%
May 08, 2025 ±9.01% -15.78% 1.75× 88.0% → 70.2%
February 25, 2025 ±7.76% -3.23% 0.42× 69.7% → 60.3%
Reconstructed from archived mid quotes; the straddle covers its expiration, not only the reaction session. These are not option returns. Method and missing reports →