Analyzing the options chain and the chart patterns of CLF Cleveland-Cliffs prior to the earnings report this week, I would consider purchasing the 14usd strike price Calls with an expiration date of 2023-11-17, for a premium of approximately $1.29. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Trade closed: target reached
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CLF traded at $15.74 after earnings, and the Calls went up from $1.29 (when I wrote this article) to $1.93 at the close today (a lot higher intraday), for about 50% gain!