What the Options Market Tells Us About Chipotle Mexican Grill

Financial giants have made a conspicuous bearish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill CMG revealed 33 unusual trades.

Delving into the details, we found 33% of traders were bullish, while 45% showed bearish tendencies. Out of all the trades we spotted, 16 were puts, with a value of $902,732, and 17 were calls, valued at $1,176,881.

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 $51.0 and $84.0 for Chipotle Mexican Grill, spanning the last three months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chipotle Mexican Grill's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chipotle Mexican Grill's substantial trades, within a strike price spectrum from $51.0 to $84.0 over the preceding 30 days.

Chipotle Mexican Grill Call and Put Volume: 30-Day Overview

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 $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.

Following our analysis of the options activities associated with Chipotle Mexican Grill, we pivot to a closer look at the company's own performance.

Chipotle Mexican Grill's Current Market Status

• Trading volume stands at 8,821,550, with CMG's price down by -1.34%, positioned at $55.39.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 57 days.

Expert Opinions on Chipotle Mexican Grill

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $63.4.

• An analyst from Stephens & Co. has revised its rating downward to Equal-Weight, adjusting the price target to $61.
• Consistent in their evaluation, an analyst from Deutsche Bank keeps a Buy rating on Chipotle Mexican Grill with a target price of $67.
• An analyst from Baird has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $62.
• An analyst from Truist Securities persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $69.
• An analyst from Wedbush has elevated its stance to Outperform, setting a new price target at $58.

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.