Spotlight on Chipotle Mexican Grill: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bearish 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 13 uncommon options trades for Chipotle Mexican Grill.

This isn't normal.

The overall sentiment of these big-money traders is split between 15% bullish and 84%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $334,340, and 7 are calls, for a total amount of $383,509.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $1850.0 to $2600.0 for Chipotle Mexican Grill during the past quarter.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Chipotle Mexican Grill stands at 85.91, with a total volume reaching 16.00. 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 $1850.0 to $2600.0, throughout the last 30 days.

Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

About Chipotle Mexican Grill

Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $8.6 billion in 2022. The Mexican concept is predominately company-owned (it recently inked a development agreement with Alshaya Group in the Middle East), with a footprint of nearly 3,200 stores at the end of 2022, heavily indexed to the United States, although the firm maintains a small presence in Canada, the U.K., 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.

Where Is Chipotle Mexican Grill Standing Right Now?

• With a trading volume of 77,657, the price of CMG is down by 0.0%, reaching $2286.96.
• Current RSI values indicate that the stock is may be approaching overbought.
• Next earnings report is scheduled for 35 days from now.

What The Experts Say On Chipotle Mexican Grill

3 market experts have recently issued ratings for this stock, with a consensus target price of $2550.0.

• An analyst from Stephens & Co. has decided to maintain their Overweight rating on Chipotle Mexican Grill, which currently sits at a price target of $2800.
• Reflecting concerns, an analyst from Wedbush lowers its rating to Neutral with a new price target of $2400.
• An analyst from Raymond James has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $2450.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chipotle Mexican Grill with Benzinga Pro for real-time alerts.