A whale with a lot of money to spend has taken a noticeably bearish stance on Chipotle Mexican Grill.
Looking at options history for Chipotle Mexican Grill CMG we detected 39 strange trades.
If we consider the specifics of each trade, it is accurate to state that 30% of the investors opened trades with bullish expectations and 69% with bearish.
From the overall spotted trades, 11 are puts, for a total amount of $531,648 and 28, calls, for a total amount of $1,270,940.
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 $1700.0 to $3000.0 for Chipotle Mexican Grill over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Chipotle Mexican Grill options trades today is 71.1 with a total volume of 545.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chipotle Mexican Grill's big money trades within a strike price range of $1700.0 to $3000.0 over the last 30 days.
Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMG | CALL | TRADE | BULLISH | 01/17/25 | $3000.00 | $105.5K | 141 | 178 |
| CMG | PUT | SWEEP | BEARISH | 01/17/25 | $2050.00 | $105.0K | 23 | 8 |
| CMG | CALL | SWEEP | BEARISH | 11/24/23 | $2005.00 | $102.9K | 29 | 15 |
| CMG | CALL | TRADE | BULLISH | 02/16/24 | $2060.00 | $102.6K | 3 | 0 |
| CMG | PUT | TRADE | BEARISH | 01/17/25 | $2050.00 | $102.5K | 23 | 2 |
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Where Is Chipotle Mexican Grill Standing Right Now?
- With a volume of 145,527, the price of CMG is up 0.35% at $2042.47.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 95 days.
What The Experts Say On Chipotle Mexican Grill:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Chipotle Mexican Grill, which currently sits at a price target of $2070.
- Stephens & Co. downgraded its action to Overweight with a price target of $2330
- Deutsche Bank downgraded its action to Buy with a price target of $2375
- Wedbush downgraded its action to Outperform with a price target of $2200
- Truist Securities downgraded its action to Buy with a price target of $2280
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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