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 positions 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.
Today, Benzinga's options scanner spotted 12 options trades for Chipotle Mexican Grill.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 41%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $27,090, and 11, calls, for a total amount of $524,778.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2900.0 to $3480.0 for Chipotle Mexican Grill over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chipotle Mexican Grill's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chipotle Mexican Grill's substantial trades, within a strike price spectrum from $2900.0 to $3480.0 over the preceding 30 days.
Chipotle Mexican Grill Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| 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 | $121.7 | $108.0 | $115.0 | $3115.00 | $92.0K | 1 | 0 |
| CMG | CALL | TRADE | BEARISH | 06/28/24 | $62.8 | $59.0 | $59.0 | $3215.00 | $70.8K | 65 | 3 |
| CMG | CALL | TRADE | NEUTRAL | 07/12/24 | $80.0 | $74.1 | $77.42 | $3260.00 | $61.9K | 33 | 0 |
| CMG | CALL | TRADE | BULLISH | 06/20/25 | $488.0 | $468.0 | $480.0 | $3200.00 | $48.0K | 90 | 0 |
| CMG | CALL | SWEEP | BULLISH | 07/19/24 | $91.0 | $83.2 | $87.67 | $3250.00 | $43.5K | 164 | 1 |
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.
In light of the recent options history for Chipotle Mexican Grill, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Chipotle Mexican Grill
- Currently trading with a volume of 28,250, the CMG's price is down by -0.39%, now at $3198.11.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 30 days.
What The Experts Say On Chipotle Mexican Grill
5 market experts have recently issued ratings for this stock, with a consensus target price of $3587.6.
- Consistent in their evaluation, an analyst from Argus Research keeps a Buy rating on Chipotle Mexican Grill with a target price of $3888.
- An analyst from TD Cowen persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $3600.
- An analyst from Goldman Sachs downgraded its action to Buy with a price target of $3730.
- An analyst from Wedbush has revised its rating downward to Neutral, adjusting the price target to $3200.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Chipotle Mexican Grill, targeting a price of $3520.
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.
