Cleveland-Cliffs Inc (CLF) Wheel Strategy

Running a CLF wheel strategy lets you generate consistent premium income on Cleveland-Cliffs Inc while setting your own entry and exit prices on the underlying. Cleveland-Cliffs Inc's wheel combines cash-secured puts and covered calls into a repeatable cycle: sell puts at strikes where you'd be happy to own CLF, and if assigned, sell calls at strikes where you'd be happy to sell. Use our scanner to find the best CLF wheel strategy setups in real time.

The wheel works best on liquid, high-quality names with stable fundamentals and active options markets — exactly the profile many large-cap leaders fit. The mechanics are simple: sell a cash-secured put on CLF, collect premium, and either keep the premium if it expires worthless or take assignment at a discount to current price. Once assigned, sell covered calls against the shares to keep collecting premium until they're called away. Choosing the right strikes, expirations, and IV environment is what separates a profitable CLF wheel from a losing one.

Cleveland-Cliffs Inc. operates as a flat-rolled steel producer in North America. The company offers carbon steel products, such as hot-rolled, cold-rolled, electrogalvanized, hot-dip galvanized, hot-dip galvannealed, aluminized, enameling, and advanced high-strength steel products; stainless steel products; plates; and grain oriented and non-oriented electrical steel products. It also provides tubular components, including carbon steel, stainless steel, and electric resistance welded tubing. In addition, the company offers tinplate products, such as electrolytic tin coated and chrome coated sheet, and tin mill products; tooling and sampling; raw materials; ingots, rolled blooms, and cast blooms; and hot-briquetted iron products.

The difference between a wheel that compounds and one that bleeds comes down to strike selection, IV timing, and discipline on assignment. Our scanner handles the heavy lifting: it ranks every leg of the CLF wheel strategy by delta, premium yield, IV rank, and days to expiration, so you can deploy capital where the math works. Build your CLF wheel strategy on data, not gut feel — and let the options wheel do what it does best: pay you to wait.