Deep-pocketed investors have adopted a bullish 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 11 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 45% leaning bullish and 18% bearish. Among these notable options, 5 are puts, totaling $177,710, and 6 are calls, amounting to $259,800.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.8 to $60.0 for Chipotle Mexican Grill over the recent three months.
Volume & Open Interest Development
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 $30.8 to $60.0 over the preceding 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 | CALL | SWEEP | BULLISH | 07/26/24 | $2.05 | $2.0 | $2.0 | $55.00 | $86.4K | 3.3K | 994 |
| CMG | CALL | TRADE | NEUTRAL | 09/20/24 | $1.8 | $1.7 | $1.75 | $59.00 | $43.7K | 2.9K | 665 |
| CMG | PUT | SWEEP | BEARISH | 09/20/24 | $3.5 | $3.4 | $3.5 | $55.00 | $43.7K | 11.8K | 181 |
| CMG | PUT | TRADE | BEARISH | 09/20/24 | $2.9 | $2.85 | $2.9 | $54.00 | $43.5K | 8.4K | 140 |
| CMG | CALL | SWEEP | BULLISH | 09/20/24 | $1.65 | $1.6 | $1.65 | $59.00 | $41.2K | 2.9K | 368 |
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.
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
Chipotle Mexican Grill's Current Market Status
- With a volume of 2,150,303, the price of CMG is up 1.81% at $54.53.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 1 days.
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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