Options Action: Cliffs Natural Resources

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Shares of Cliffs Natural Resources are plunging about 4 percent today ahead of the company’s earnings report tomorrow. CNBC contributor Mike Khouw of CRT Capital Group, discusses the negative stance options traders are taking in the stock.

Melissa Lee anchors a fast-paced discussion among four professional Wall Street traders. An hour after the bell Fast Money hosts one of the best trading discussions of the day.

Video © and provided by CNBC.