Smart Money Is Betting Big In CMG Options

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

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CMG, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 15 uncommon options trades for Chipotle Mexican Grill.

This isn't normal.

The overall sentiment of these big-money traders is split between 26% bullish and 33%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $201,640, and 10 are calls, for a total amount of $708,967.

Projected Price Targets

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2180.0 and $3400.0 for Chipotle Mexican Grill, spanning the last three months.

Insights into Volume & Open Interest

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 $2180.0 to $3400.0, over the past month.

Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
CMG CALL TRADE NEUTRAL 09/20/24 $1005.3 $990.0 $997.0 $2200.00 $299.1K 67 3
CMG CALL TRADE BEARISH 06/21/24 $999.6 $991.5 $991.5 $2180.00 $99.1K 21 1
CMG CALL TRADE BULLISH 12/20/24 $463.0 $456.8 $463.0 $2870.00 $92.6K 2 2
CMG PUT TRADE NEUTRAL 07/19/24 $36.0 $32.7 $34.31 $3000.00 $51.4K 198 15
CMG PUT TRADE NEUTRAL 06/14/24 $97.0 $88.1 $92.55 $3230.00 $46.2K 6 5

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.

Chipotle Mexican Grill's Current Market Status

  • With a volume of 27,765, the price of CMG is down -0.69% at $3147.26.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 44 days.

Expert Opinions on Chipotle Mexican Grill

4 market experts have recently issued ratings for this stock, with a consensus target price of $3301.25.

  • Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on Chipotle Mexican Grill with a target price of $3485.
  • An analyst from Truist Securities has decided to maintain their Buy rating on Chipotle Mexican Grill, which currently sits at a price target of $3520.
  • An analyst from JP Morgan has decided to maintain their Neutral rating on Chipotle Mexican Grill, which currently sits at a price target of $3000.
  • Reflecting concerns, an analyst from Wedbush lowers its rating to Neutral with a new price target of $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.

Market News and Data brought to you by Benzinga APIs
Date of Trade
Strike Price
Posted In: OptionsMarketsBZI-UOA
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