Deep-pocketed investors have adopted a bullish approach towards Chipotle Mexican Grill CMG, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CMG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 18 extraordinary options activities for Chipotle Mexican Grill. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Among these notable options, 10 are puts, totaling $605,422, and 8 are calls, amounting to $604,840.
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What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1750.0 to $3400.0 for Chipotle Mexican Grill during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chipotle Mexican Grill's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chipotle Mexican Grill's substantial trades, within a strike price spectrum from $1750.0 to $3400.0 over the preceding 30 days.
Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMG | CALL | SWEEP | BEARISH | 06/21/24 | $2420.00 | $301.9K | 28 | 24 |
| CMG | PUT | SWEEP | BULLISH | 06/21/24 | $1790.00 | $115.2K | 51 | 98 |
| CMG | PUT | SWEEP | BULLISH | 01/16/26 | $1750.00 | $92.2K | 16 | 10 |
| CMG | PUT | TRADE | BULLISH | 01/16/26 | $1880.00 | $89.8K | 9 | 7 |
| CMG | PUT | TRADE | BULLISH | 01/16/26 | $1930.00 | $82.9K | 6 | 7 |
About Chipotle Mexican Grill
Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $8.6 billion in 2022. The Mexican concept is predominately company-owned (it recently inked a development agreement with Alshaya Group in the Middle East), with a footprint of nearly 3,200 stores at the end of 2022, heavily indexed to the United States, although the firm maintains a small presence in Canada, the U.K., France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.
Having examined the options trading patterns of Chipotle Mexican Grill, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Chipotle Mexican Grill
- Currently trading with a volume of 90,158, the CMG's price is down by 0.0%, now at $2325.0.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 14 days.
What Analysts Are Saying About Chipotle Mexican Grill
5 market experts have recently issued ratings for this stock, with a consensus target price of $2489.4.
- An analyst from Stephens & Co. persists with their Overweight rating on Chipotle Mexican Grill, maintaining a target price of $2800.
- Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for Chipotle Mexican Grill, targeting a price of $2525.
- An analyst from Piper Sandler persists with their Neutral rating on Chipotle Mexican Grill, maintaining a target price of $2226.
- An analyst from Barclays has decided to maintain their Equal-Weight rating on Chipotle Mexican Grill, which currently sits at a price target of $2246.
- In a cautious move, an analyst from Baird downgraded its rating to Outperform, setting a price target of $2650.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chipotle Mexican Grill with Benzinga Pro for real-time alerts.
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