It means the transmission is failing. It is caused by gears grinding or rubbing.
Serious engine wear.
some metal in pan is ok.
A lot depends on the TYPE of metal shavings you have in the pan. Larger "pieces" of shiny metal can often be broken rings and will be accommodated by oil burning, rough running, etc. Much smaller fragments can be rod bearings. Much depends on how the engine is running. More info on that would be helpful
clutchplates are going out, (poor mantenance)
It usually means you're going to have to do some work to your engine. Most of the time, the metal shavings are pieces of one or more of your bearings. Never a good sign. Unfortunately it usually means that the bearings have "touched down" against the crankshaft and there's serious trouble.
not recommended you will only cause more damage
Can be many things. Rod or bearing damage. I would have the oil pressure checked, and also probably pull the pan and see what is going on. Metal shavings in the oil is a very bad sign.
A small amount of shavings is normal. That is why there is a magnet inside the pan to collect the shavings. A large amount or large pieces of metal is not normal and will require a professional to diagnosis. It it has run good and has not had shifting problems, or strange noises, then it is most likely fine. I just rebuilt my son's 4T60E transmission for that very problem. I found two sources of the metal shavings: The teeth on the reverse reaction drum (stove pipe) and the spyders for the differential in the final drive carrier were in the process of shelling out. Chuck Check to see if there is a recall on your transmission.
it can be normal to find some small metal shavings and metal flake, this usually accumulates on a magnet in the pan of an automatic, if the vehicle is operating properly, i would just replace the fluid and filter,if equipped and use the car, unfortunately not much can be done beyond this without removal and disassemby of the transmission
There is no transmission drain plug. You have to drop the entire pan to change the fluid. Always change the filter while you have the pan off and clean any metal shavings from the pan.
The reason for the magnet in the oil pan is to catch any metal shavings or metal fragments from inside the engine from wear when engine is running very common to see this old school trick also means someone has possibly rebuilt your engine or atleast been inside of it
The oil pan needs to be removed. the engine may have to be raised for clearance. Drain the oil, then unbolt the pan. Remove the pan and clean any sludge and metal shavings. Remove the old gasket and clean the engine and pan edge. Install the new gasket and blot the pan loosely. Tighten the pan bolts slowly, in a criss cross pattern to keep from warping the pan. Torque bolts properly.