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 10 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 20% leaning bullish and 50% bearish. Among these notable options, 3 are puts, totaling $116,375, and 7 are calls, amounting to $337,776.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.8 to $84.0 for Chipotle Mexican Grill over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Chipotle Mexican Grill options trades today is 2054.4 with a total volume of 5,627.00.
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 $30.8 to $84.0 over 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 | NEUTRAL | 12/18/26 | $31.9 | $28.5 | $29.9 | $30.80 | $89.7K | 675 | 31 |
| CMG | CALL | SWEEP | BEARISH | 12/20/24 | $2.25 | $2.2 | $2.2 | $60.00 | $46.8K | 5.3K | 581 |
| CMG | PUT | SWEEP | BEARISH | 09/06/24 | $0.65 | $0.6 | $0.63 | $56.00 | $46.2K | 814 | 2.9K |
| CMG | PUT | SWEEP | BEARISH | 10/04/24 | $0.85 | $0.8 | $0.85 | $51.00 | $45.0K | 100 | 779 |
| CMG | CALL | SWEEP | BEARISH | 01/16/26 | $6.7 | $6.4 | $6.4 | $64.00 | $44.1K | 2.1K | 0 |
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.
Chipotle Mexican Grill's Current Market Status
- Currently trading with a volume of 4,727,293, the CMG's price is down by -3.3%, now at $54.23.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 51 days.
Professional Analyst Ratings for Chipotle Mexican Grill
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $61.8.
- An analyst from Baird persists with their Outperform rating on Chipotle Mexican Grill, maintaining a target price of $62.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a Outperform rating on Chipotle Mexican Grill with a target price of $59.
- 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 revised its rating downward to Outperform, adjusting the price target to $58.
- An analyst from Stephens & Co. downgraded its action to Equal-Weight with a price target of $61.
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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