Financial giants have made a conspicuous bearish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill CMG revealed 16 unusual trades.
Delving into the details, we found 31% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $434,266, and 9 were calls, valued at $513,108.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1700.0 to $4300.0 for Chipotle Mexican Grill over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Chipotle Mexican Grill stands at 43.73, with a total volume reaching 60.00. 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 $1700.0 to $4300.0, throughout the last 30 days.
Chipotle Mexican Grill 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMG | PUT | SWEEP | BEARISH | 01/17/25 | $156.2 | $149.5 | $152.24 | $3000.00 | $213.4K | 308 | 23 |
| CMG | CALL | TRADE | BULLISH | 06/20/25 | $1604.0 | $1586.0 | $1596.8 | $1700.00 | $159.6K | 4 | 0 |
| CMG | CALL | TRADE | BEARISH | 06/20/25 | $1514.0 | $1496.0 | $1503.2 | $1800.00 | $150.3K | 11 | 0 |
| CMG | PUT | SWEEP | NEUTRAL | 05/31/24 | $34.3 | $29.0 | $32.5 | $3165.00 | $55.2K | 9 | 17 |
| CMG | CALL | TRADE | BEARISH | 03/21/25 | $134.0 | $126.8 | $126.8 | $3850.00 | $38.0K | 0 | 3 |
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, although it recently inked a development agreement with Alshaya Group in the Middle East. It had a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although it maintains a small presence in Canada, the UK, 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.
After a thorough review of the options trading surrounding Chipotle Mexican Grill, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Chipotle Mexican Grill's Current Market Status
- With a volume of 101,208, the price of CMG is down -0.08% at $3173.93.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 64 days.
What The Experts Say On 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 $3143.0.
- An analyst from TD Cowen persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $3500.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on Chipotle Mexican Grill with a target price of $3500.
- An analyst from JP Morgan persists with their Neutral rating on Chipotle Mexican Grill, maintaining a target price of $2750.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Chipotle Mexican Grill, targeting a price of $2865.
- An analyst from Morgan Stanley persists with their Equal-Weight rating on Chipotle Mexican Grill, maintaining a target price of $3100.
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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