Deep-pocketed investors have adopted a bearish 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 8 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 12% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $121,113, and 6 are calls, amounting to $264,938.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $50.0 to $65.0 for Chipotle Mexican Grill during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Chipotle Mexican Grill options trades today is 3792.67 with a total volume of 2,466.00.
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 $50.0 to $65.0 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CMG | CALL | TRADE | BEARISH | 08/16/24 | $2.25 | $2.15 | $2.15 | $50.00 | $96.1K | 4.1K | 797 |
| CMG | PUT | SWEEP | BEARISH | 08/16/24 | $6.1 | $5.8 | $6.04 | $58.00 | $90.2K | 3.8K | 175 |
| CMG | CALL | TRADE | BEARISH | 01/16/26 | $11.5 | $11.2 | $11.3 | $50.00 | $44.0K | 1.8K | 39 |
| CMG | CALL | SWEEP | BEARISH | 01/17/25 | $6.5 | $6.4 | $6.4 | $50.00 | $35.8K | 8.7K | 154 |
| CMG | CALL | SWEEP | BEARISH | 08/16/24 | $2.25 | $2.15 | $2.15 | $50.00 | $32.8K | 4.1K | 339 |
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.
In light of the recent options history for Chipotle Mexican Grill, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Chipotle Mexican Grill
- Currently trading with a volume of 2,310,709, the CMG's price is up by 0.29%, now at $51.8.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 70 days.
Expert Opinions on Chipotle Mexican Grill
In the last month, 5 experts released ratings on this stock with an average target price of $62.4.
- An analyst from Stifel persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $70.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Chipotle Mexican Grill, targeting a price of $55.
- An analyst from Stephens & Co. downgraded its action to Equal-Weight with a price target of $61.
- An analyst from Stephens & Co. persists with their Equal-Weight rating on Chipotle Mexican Grill, maintaining a target price of $61.
- An analyst from TD Cowen persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $65.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
