Cleveland-Cliffs is set to release its earnings report on October 19. Previously, the company's stock surged nearly 16% in a single day after its July quarterly report, leading option traders and short positions to remain vigilant, with short-term implied volatility (IV) being actively pushed higher. Short interest is close to 14%, and the company's CEO is known for his aggressive rhetoric, once stating he likes to deal with short sellers "like boiling a frog."