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 28 uncommon options trades for Chipotle Mexican Grill.
This isn't normal.
The overall sentiment of these big-money traders is split between 39% bullish and 39%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $340,450, and 22 are calls, for a total amount of $1,162,148.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2000.0 to $4800.0 for Chipotle Mexican Grill over the recent three months.
Volume & Open Interest Development
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 $2000.0 to $4800.0 in the last 30 days.
Chipotle Mexican Grill Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMG | CALL | SWEEP | BEARISH | 06/28/24 | $84.8 | $81.0 | $81.0 | $3215.00 | $241.5K | 23 | 0 |
| CMG | PUT | SWEEP | BEARISH | 07/19/24 | $275.3 | $259.0 | $275.3 | $3450.00 | $137.6K | 19 | 0 |
| CMG | CALL | TRADE | BULLISH | 07/12/24 | $84.0 | $81.8 | $84.0 | $3260.00 | $100.8K | 36 | 18 |
| CMG | CALL | TRADE | NEUTRAL | 09/20/24 | $222.7 | $210.1 | $217.0 | $3250.00 | $65.1K | 87 | 0 |
| CMG | PUT | SWEEP | BEARISH | 06/28/24 | $89.7 | $85.8 | $89.7 | $3220.00 | $62.7K | 39 | 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, 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.
Following our analysis of the options activities associated with Chipotle Mexican Grill, we pivot to a closer look at the company's own performance.
Current Position of Chipotle Mexican Grill
- With a trading volume of 54,396, the price of CMG is up by 0.14%, reaching $3218.87.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 33 days from now.
Professional Analyst Ratings for Chipotle Mexican Grill
In the last month, 5 experts released ratings on this stock with an average target price of $3507.6.
- In a cautious move, an analyst from Wedbush downgraded its rating to Neutral, setting a price target of $3200.
- An analyst from Goldman Sachs downgraded its action to Buy with a price target of $3730.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Chipotle Mexican Grill, targeting a price of $3888.
- An analyst from Truist Securities persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $3520.
- An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $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.
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