Investors with a lot of money to spend have taken a bullish 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 22 uncommon options trades for Chipotle Mexican Grill.
This isn't normal.
The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $226,940, and 16 are calls, for a total amount of $2,325,631.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2340.0 to $3120.0 for Chipotle Mexican Grill over the recent three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Chipotle Mexican Grill options trades today is 15.92 with a total volume of 532.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chipotle Mexican Grill's big money trades within a strike price range of $2340.0 to $3120.0 over the last 30 days.
Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMG | CALL | SWEEP | BEARISH | 04/05/24 | $305.9 | $288.9 | $299.98 | $2585.00 | $720.7K | 62 | 17 |
| CMG | CALL | SWEEP | BULLISH | 04/19/24 | $305.0 | $299.3 | $301.69 | $2595.00 | $692.5K | 5 | 23 |
| CMG | CALL | SWEEP | BEARISH | 04/19/24 | $308.1 | $296.0 | $302.9 | $2595.00 | $121.1K | 5 | 27 |
| CMG | CALL | TRADE | BULLISH | 04/26/24 | $38.4 | $32.3 | $37.8 | $3120.00 | $113.4K | 3 | 79 |
| CMG | CALL | TRADE | BULLISH | 04/26/24 | $38.4 | $32.0 | $37.5 | $3120.00 | $105.0K | 3 | 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.
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
Current Position of Chipotle Mexican Grill
- With a trading volume of 65,090, the price of CMG is up by 0.86%, reaching $2880.58.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 19 days from now.
What Analysts Are Saying About Chipotle Mexican Grill
In the last month, 4 experts released ratings on this stock with an average target price of $3150.0.
- Maintaining their stance, an analyst from BTIG continues to hold a Buy rating for Chipotle Mexican Grill, targeting a price of $3250.
- Maintaining their stance, an analyst from Bernstein continues to hold a Outperform rating for Chipotle Mexican Grill, targeting a price of $3200.
- Maintaining their stance, an analyst from Wedbush continues to hold a Neutral rating for Chipotle Mexican Grill, targeting a price of $2850.
- Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Chipotle Mexican Grill with a target price of $3300.
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.
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