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 17 uncommon options trades for Chipotle Mexican Grill.
This isn't normal.
The overall sentiment of these big-money traders is split between 17% bullish and 82%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $330,550, and 9 are calls, for a total amount of $684,166.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $1600.0 and $2500.0 for Chipotle Mexican Grill, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Chipotle Mexican Grill stands at 51.64, with a total volume reaching 44.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chipotle Mexican Grill, situated within the strike price corridor from $1600.0 to $2500.0, throughout the last 30 days.
Chipotle Mexican Grill Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMG | CALL | TRADE | NEUTRAL | 01/19/24 | $1600.00 | $187.5K | 23 | 3 |
| CMG | CALL | TRADE | BEARISH | 06/21/24 | $1840.00 | $185.2K | 5 | 4 |
| CMG | PUT | TRADE | BEARISH | 01/17/25 | $1900.00 | $90.0K | 81 | 0 |
| CMG | CALL | SWEEP | BEARISH | 01/19/24 | $2300.00 | $78.1K | 219 | 31 |
| CMG | PUT | TRADE | BEARISH | 06/20/25 | $2350.00 | $60.4K | 92 | 1 |
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
Present Market Standing of Chipotle Mexican Grill
- Trading volume stands at 57,111, with CMG's price down by 0.0%, positioned at $2226.25.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 62 days.
What Analysts Are Saying About Chipotle Mexican Grill
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $2425.0.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Chipotle Mexican Grill, targeting a price of $2425.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Chipotle Mexican Grill options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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