pinning
CLF · 2026-06-12 · 16:01 ET (after hours)

$CLF

CLEVELAND-CLIFFS INC

$13.78 ▲ +0.07   (+0.51%)

Free ward

Set a ward on $CLF

We DM you the instant the $15 call wall or the $12 put wall breaks. No noise, just the break.

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Free ward

Set a ward on $CLF

We DM you the instant the $15 call wall or the $12 put wall breaks.

Warded

$CLF is warded

We'll DM you the moment the $15 call wall breaks. Rest easy.

The Read

$CLF is in long gamma at heat 41, which means dealer hedging pins moves rather than amplifying them. The $13 call wall has held 2 sessions running, showing dealers are defending this level, while the $12 put wall remains untested yesterday. Spot sits 43.2% above its gamma flip at $8.66, so any push up could face resistance soon.

IV percentile · 1y 81 · premium elevated

Snapshot $13.78 · · 2026-06-12 · 16:01 ET (after hours)

The Levels

Put Wall $12 held 5 sessions
Gamma Flip $9 +60% above flip
Call Wall $15 active wall
spot $13.78

Regime pinning moves get faded back to the walls.


Scored Levels


Where the market is positioned


Implied vs Measured


Plays at the Walls

Covered Call

$15.5 · Jul 10 · 29Δ

$0.48 premium  ·  47%/yr annualized

Cash-Secured Put

$12.5 · Jul 10 · 30Δ

$0.65 premium  ·  70%/yr annualized

Not investment advice · Informational only


How our calls on $CLF have played out

Over the last 21 sessions · n=12

12 Walls Called
3 Held 60% 0 pinned · 3 rejected
2 Broke 40%
7 Untested

$13 call wall

broke 5.5% on 2026-06-11




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