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Therefore, the trading range is expected to be in the $6.00 to $8.00 range for the next three months or so.Stout Opportunities on October 31, 2017, published an article with the shares trading at $5.85 suggesting the sale of the November 17, 2017, $6.00 strike put at $0.37, for a 6.17% return on the strike price, or 130.59% annualized. The put option expired worthless as the share price closed above the $6.00 strike price on November 17.The weakness in Cliffs and possible tax loss selling might hamper a material price improvement for the next few months. The key for Cliffs will be the hot rolled steel pricing and the demand for steel.

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