Financial giants have made a conspicuous bearish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill CMG revealed 66 unusual trades.
Delving into the details, we found 31% of traders were bullish, while 68% showed bearish tendencies. Out of all the trades we spotted, 10 were puts, with a value of $309,760, and 56 were calls, valued at $2,763,139.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $900.0 to $3100.0 for Chipotle Mexican Grill during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Chipotle Mexican Grill's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chipotle Mexican Grill's whale activity within a strike price range from $900.0 to $3100.0 in the last 30 days.
Chipotle Mexican Grill 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMG | CALL | SWEEP | BEARISH | 02/16/24 | $2040.00 | $430.1K | 26 | 0 |
| CMG | CALL | SWEEP | BEARISH | 01/19/24 | $1950.00 | $242.8K | 117 | 7 |
| CMG | CALL | SWEEP | BULLISH | 12/15/23 | $1950.00 | $236.2K | 24 | 8 |
| CMG | PUT | TRADE | BULLISH | 02/16/24 | $2200.00 | $56.0K | 46 | 2 |
| CMG | CALL | TRADE | BULLISH | 12/22/23 | $2270.00 | $51.0K | 17 | 3 |
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.
Current Position of Chipotle Mexican Grill
- With a volume of 92,322, the price of CMG is up 0.3% at $2282.51.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 53 days.
Expert Opinions on Chipotle Mexican Grill
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $2437.5.
- An analyst from Raymond James has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $2450.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Chipotle Mexican Grill, targeting a price of $2425.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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