Financial giants have made a conspicuous bullish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill CMG revealed 17 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 29% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $208,500, and 12 were calls, valued at $528,828.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $2570.0 and $3450.0 for Chipotle Mexican Grill, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Chipotle Mexican Grill stands at 106.18, with a total volume reaching 199.00. 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 $2570.0 to $3450.0, throughout the last 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 | PUT | SWEEP | BEARISH | 05/17/24 | $92.0 | $86.6 | $91.3 | $3200.00 | $82.1K | 81 | 15 |
| CMG | CALL | TRADE | BEARISH | 09/20/24 | $106.7 | $100.0 | $100.0 | $3450.00 | $70.0K | 188 | 0 |
| CMG | CALL | TRADE | BEARISH | 01/16/26 | $680.0 | $662.1 | $662.1 | $3000.00 | $66.2K | 42 | 0 |
| CMG | CALL | TRADE | BULLISH | 05/31/24 | $594.0 | $584.0 | $594.0 | $2570.00 | $59.4K | 3 | 0 |
| CMG | CALL | TRADE | NEUTRAL | 05/10/24 | $246.0 | $228.0 | $236.63 | $2900.00 | $47.3K | 9 | 2 |
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
Where Is Chipotle Mexican Grill Standing Right Now?
- Currently trading with a volume of 38,336, the CMG's price is down by -0.94%, now at $3130.03.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 84 days.
What Analysts Are Saying About Chipotle Mexican Grill
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $3100.0.
- An analyst from Raymond James has revised its rating downward to Outperform, adjusting the price target to $3340.
- An analyst from Stephens & Co. downgraded its action to Equal-Weight with a price target of $3010.
- An analyst from Oppenheimer downgraded its action to Outperform with a price target of $3300.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Chipotle Mexican Grill, targeting a price of $2750.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Chipotle Mexican Grill, targeting a price of $3100.
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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