Financial giants have made a conspicuous bullish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill CMG revealed 18 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $258,750, and 10 were calls, valued at $393,330.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2800.0 to $3200.0 for Chipotle Mexican Grill during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $2800.0 to $3200.0 in the last 30 days.
Chipotle Mexican Grill Option Activity Analysis: Last 30 Days
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 | BEARISH | 06/21/24 | $149.7 | $141.9 | $141.9 | $2900.00 | $56.7K | 279 | 4 |
| CMG | CALL | SWEEP | BULLISH | 06/21/24 | $115.1 | $108.1 | $111.0 | $3000.00 | $55.5K | 141 | 11 |
| CMG | CALL | SWEEP | BULLISH | 06/21/24 | $105.8 | $103.7 | $105.8 | $3000.00 | $52.9K | 141 | 1 |
| CMG | PUT | TRADE | BULLISH | 04/05/24 | $46.7 | $36.0 | $40.1 | $2887.50 | $40.1K | 4 | 20 |
| CMG | CALL | TRADE | NEUTRAL | 04/12/24 | $44.0 | $34.0 | $39.58 | $2877.50 | $39.5K | 5 | 0 |
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 (it recently inked a development agreement with Alshaya Group in the Middle East), with a footprint of nearly 3,440 stores at the end of 2023, 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.
Following our analysis of the options activities associated with Chipotle Mexican Grill, we pivot to a closer look at the company's own performance.
Present Market Standing of Chipotle Mexican Grill
- Currently trading with a volume of 62,664, the CMG's price is up by 0.15%, now at $2881.43.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 22 days.
Expert Opinions on 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 $3150.0.
- An analyst from BTIG persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $3250.
- Consistent in their evaluation, an analyst from Wedbush keeps a Neutral rating on Chipotle Mexican Grill with a target price of $2850.
- An analyst from Deutsche Bank persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $3300.
- An analyst from Bernstein has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $3200.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
