Financial giants have made a conspicuous bullish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill CMG revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 0% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $64,050, and 6 were calls, valued at $467,267.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $2700.0 to $3250.0 for Chipotle Mexican Grill over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Chipotle Mexican Grill's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chipotle Mexican Grill's whale trades within a strike price range from $2700.0 to $3250.0 in the last 30 days.
Chipotle Mexican Grill Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMG | CALL | TRADE | BULLISH | 12/18/26 | $777.5 | $758.0 | $770.0 | $3095.00 | $308.0K | 0 | 4 |
| CMG | CALL | TRADE | BULLISH | 06/14/24 | $396.1 | $396.0 | $396.1 | $2700.00 | $39.6K | 0 | 0 |
| CMG | PUT | TRADE | NEUTRAL | 01/17/25 | $85.0 | $66.0 | $75.3 | $2700.00 | $37.6K | 271 | 0 |
| CMG | CALL | TRADE | BULLISH | 01/17/25 | $308.0 | $303.1 | $308.0 | $3100.00 | $30.8K | 223 | 1 |
| CMG | CALL | TRADE | NEUTRAL | 06/14/24 | $315.9 | $296.3 | $307.2 | $2800.00 | $30.7K | 3 | 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.
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
Present Market Standing of Chipotle Mexican Grill
- With a trading volume of 19,356, the price of CMG is down by 0.0%, reaching $3129.52.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 51 days from now.
What Analysts Are Saying About Chipotle Mexican Grill
3 market experts have recently issued ratings for this stock, with a consensus target price of $3401.6666666666665.
- An analyst from Truist Securities has decided to maintain their Buy rating on Chipotle Mexican Grill, which currently sits at a price target of $3520.
- An analyst from Wedbush downgraded its action to Neutral with a price target of $3200.
- An analyst from Oppenheimer has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $3485.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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