A Closer Look at Chipotle Mexican Grill's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bearish stance on Chipotle Mexican Grill.

Looking at options history for Chipotle Mexican Grill CMG we detected 11 trades.

If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $308,950 and 6, calls, for a total amount of $224,131.

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 $2850.0 to $3500.0 for Chipotle Mexican Grill during the past quarter.

Volume & Open Interest Development

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Chipotle Mexican Grill's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Chipotle Mexican Grill's significant trades, within a strike price range of $2850.0 to $3500.0, over the past month.

Chipotle Mexican Grill Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CMG PUT TRADE BULLISH 01/17/25 $177.0 $170.5 $170.5 $3000.00 $170.5K 313 0
CMG CALL TRADE BULLISH 09/20/24 $181.6 $175.7 $179.83 $3100.00 $53.9K 62 4
CMG CALL TRADE BEARISH 01/17/25 $473.9 $470.0 $470.0 $2850.00 $47.0K 204 1
CMG PUT TRADE BULLISH 06/07/24 $45.4 $45.0 $45.0 $3100.00 $45.0K 76 20
CMG PUT TRADE BEARISH 06/07/24 $40.0 $37.4 $40.0 $3100.00 $40.0K 76 30

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.

Current Position of Chipotle Mexican Grill

  • Trading volume stands at 147,014, with CMG's price down by -0.14%, positioned at $3072.23.
  • RSI indicators show the stock to be may be approaching oversold.
  • Earnings announcement expected in 50 days.

What Analysts Are Saying About Chipotle Mexican Grill

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $3301.25.

  • Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Chipotle Mexican Grill, targeting a price of $3520.
  • Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Chipotle Mexican Grill, targeting a price of $3000.
  • In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $3200.
  • An analyst from Oppenheimer persists with their Outperform rating on Chipotle Mexican Grill, maintaining a target price of $3485.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Chipotle Mexican Grill, Benzinga Pro gives you real-time options trades alerts.

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Posted In: OptionsMarketsBZI-UOA
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