Market Whales and Their Recent Bets on CMG Options

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Deep-pocketed investors have adopted a bearish 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 17 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 11% leaning bullish and 47% bearish. Among these notable options, 7 are puts, totaling $1,096,740, and 10 are calls, amounting to $1,525,592.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2650.0 to $4800.0 for Chipotle Mexican Grill over the last 3 months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Chipotle Mexican Grill options trades today is 52.77 with a total volume of 78.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Chipotle Mexican Grill's big money trades within a strike price range of $2650.0 to $4800.0 over the last 30 days.

Chipotle Mexican Grill 30-Day Option Volume & Interest Snapshot

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CMG CALL SWEEP BULLISH 06/07/24 $495.9 $480.6 $485.52 $2660.00 $1.0M 0 0
CMG PUT SWEEP BULLISH 01/17/25 $1648.0 $1628.1 $1628.1 $4800.00 $814.0K 0 5
CMG CALL TRADE BEARISH 05/31/24 $494.0 $485.0 $485.0 $2650.00 $97.0K 22 2
CMG PUT SWEEP BEARISH 06/21/24 $42.6 $38.6 $42.6 $3100.00 $72.4K 198 26
CMG CALL TRADE NEUTRAL 08/16/24 $342.1 $328.4 $335.84 $2900.00 $67.1K 4 2

About Chipotle Mexican Grill

Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $9.9 billion in 2023. The Mexican concept is predominately company-owned, although it recently inked a development agreement with Alshaya Group in the Middle East. It had a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although it maintains a small presence in Canada, the UK, 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.

Where Is Chipotle Mexican Grill Standing Right Now?

  • Trading volume stands at 100,424, with CMG's price down by 0.0%, positioned at $3151.63.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 57 days.

Professional Analyst Ratings for Chipotle Mexican Grill

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $3342.5.

  • An analyst from Oppenheimer persists with their Outperform rating on Chipotle Mexican Grill, maintaining a target price of $3485.
  • An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $3200.

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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Posted In: OptionsMarketsBZI-UOA
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