Deep-pocketed investors have adopted a bearish approach towards Chipotle Mexican Grill CMG, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CMG usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 62 extraordinary options activities for Chipotle Mexican Grill. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 30% leaning bullish and 69% bearish. Among these notable options, 29 are puts, totaling $2,542,575, and 33 are calls, amounting to $2,068,378.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1845.0 to $3700.0 for Chipotle Mexican Grill over the last 3 months.
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 $1845.0 to $3700.0 in the last 30 days.
Chipotle Mexican Grill 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMG | PUT | TRADE | BULLISH | 01/17/25 | $279.0 | $275.0 | $275.0 | $2950.00 | $330.0K | 128 | 0 |
| CMG | PUT | TRADE | BULLISH | 01/17/25 | $285.8 | $285.0 | $285.0 | $2950.00 | $285.0K | 128 | 22 |
| CMG | PUT | TRADE | BEARISH | 01/17/25 | $203.0 | $201.3 | $203.0 | $2800.00 | $243.6K | 213 | 12 |
| CMG | PUT | TRADE | BEARISH | 01/17/25 | $201.0 | $200.2 | $201.0 | $2800.00 | $241.2K | 213 | 12 |
| CMG | PUT | TRADE | BEARISH | 01/17/25 | $205.0 | $204.2 | $205.0 | $2800.00 | $205.0K | 213 | 24 |
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
Present Market Standing of Chipotle Mexican Grill
- Trading volume stands at 210,533, with CMG's price down by -1.99%, positioned at $2850.05.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 5 days.
What Analysts Are Saying About Chipotle Mexican Grill
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $3128.8.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Chipotle Mexican Grill, targeting a price of $2986.
- An analyst from Evercore ISI Group has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $3200.
- Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Chipotle Mexican Grill, targeting a price of $3358.
- An analyst from UBS has decided to maintain their Buy rating on Chipotle Mexican Grill, which currently sits at a price target of $3400.
- Maintaining their stance, an analyst from Jefferies continues to hold a Hold rating for Chipotle Mexican Grill, targeting a price of $2700.
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.
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