Whales with a lot of money to spend have taken a noticeably bearish stance on Chipotle Mexican Grill.
Looking at options history for Chipotle Mexican Grill CMG we detected 19 trades.
If we consider the specifics of each trade, it is accurate to state that 21% of the investors opened trades with bullish expectations and 57% with bearish.
From the overall spotted trades, 16 are puts, for a total amount of $524,983 and 3, calls, for a total amount of $113,370.
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 $52.0 and $65.0 for Chipotle Mexican Grill, spanning the last three months.
Volume & Open Interest Trends
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 $52.0 to $65.0 over the preceding 30 days.
Chipotle Mexican Grill Option Activity Analysis: 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 | PUT | SWEEP | BEARISH | 09/20/24 | $0.75 | $0.65 | $0.75 | $53.00 | $56.2K | 7.6K | 762 |
| CMG | PUT | SWEEP | BULLISH | 12/20/24 | $4.8 | $4.7 | $4.7 | $56.00 | $51.2K | 1.1K | 218 |
| CMG | CALL | SWEEP | BULLISH | 09/20/24 | $1.15 | $1.1 | $1.15 | $55.00 | $48.9K | 17.4K | 687 |
| CMG | PUT | SWEEP | BULLISH | 12/20/24 | $6.0 | $5.9 | $5.92 | $58.00 | $45.5K | 1.4K | 418 |
| CMG | CALL | TRADE | BEARISH | 01/16/26 | $7.5 | $7.2 | $7.2 | $62.00 | $38.8K | 2.1K | 217 |
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.
After a thorough review of the options trading surrounding Chipotle Mexican Grill, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Chipotle Mexican Grill
- Currently trading with a volume of 6,049,531, the CMG's price is up by 1.58%, now at $55.06.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 48 days.
What The Experts Say On Chipotle Mexican Grill
In the last month, 5 experts released ratings on this stock with an average target price of $62.8.
- An analyst from Truist Securities persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $69.
- Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Chipotle Mexican Grill, targeting a price of $59.
- An analyst from Wedbush upgraded its action to Outperform with a price target of $58.
- Reflecting concerns, an analyst from Stephens & Co. lowers its rating to Equal-Weight with a new price target of $61.
- An analyst from Deutsche Bank persists with their Buy rating on Chipotle Mexican Grill, maintaining a target price of $67.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chipotle Mexican Grill with Benzinga Pro for real-time alerts.
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