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Deep-pocketed investors have adopted a bearish approach towards Chipotle Mexican Grill (NYSE: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 18 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 38% leaning bullish and 50% bearish. Among these notable options, 9 are puts, totaling $476,722, and 9 are calls, amounting to $567,849.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $60.0 for Chipotle Mexican Grill over the last 3 months.
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 $40.0 to $60.0 in the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
CMG | CALL | TRADE | BULLISH | 12/20/24 | $7.1 | $6.9 | $7.02 | $50.00 | $104.5K | 2.6K | 175 |
CMG | CALL | TRADE | BEARISH | 10/18/24 | $2.1 | $1.95 | $2.0 | $55.00 | $100.0K | 10.4K | 691 |
CMG | CALL | TRADE | BEARISH | 10/04/24 | $0.9 | $0.75 | $0.79 | $57.00 | $78.9K | 118 | 1.0K |
CMG | PUT | SWEEP | NEUTRAL | 01/16/26 | $7.4 | $7.1 | $7.17 | $54.00 | $68.0K | 1.5K | 94 |
CMG | PUT | SWEEP | BULLISH | 01/17/25 | $6.9 | $6.7 | $6.7 | $59.00 | $63.6K | 9.4K | 94 |
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.
5 market experts have recently issued ratings for this stock, with a consensus target price of $63.6.
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.
Posted In: CMG