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What Are Whales Doing With Chipotle Mexican Grill – Chipotle Mexican Grill (NYSE:CMG)

Someone with a lot of money to spend has taken a bearish stance Chipotle Mexican Grill CMG.

And retailers should know.

We noticed this today when the big position in the history of publicly available options that we are tracking here at Benzinga came up.

Whether this is an institution or just a wealthy person, we don’t know. But when something this big happens to CMG, it often means someone knows something is about to happen.

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So how do we know what this whale just did?

Today, Benzinga’s options scanner discovered 76 unusual options trades for Chipotle Mexican Grill.

That’s not normal.

The overall sentiment of these big money traders is split between 30% bullish and 69% bearish.

Of all the special options we uncovered, 53 are puts totaling $2,896,523 and 23 are calls totaling $1,290,961.

What is the course objective?

Considering the volume and open interest in these contracts, it appears that whales have been targeting a price range of $1000.0 to $2100.0 for the Chipotle Mexican Grill over the last 3 months.

Volume and open interest development

In terms of liquidity and interest rates, the mean open interest for Chipotle Mexican Grill options trades today is 46.56 with a total volume of 2,184.00.

In the chart below, we can track the evolution of volume and open interest of call and put options on Chipotle Mexican Grill’s big money trades within a strike price range of $1000.0 to $2100.0 over the last 30 days.

Chipotle Mexican Grill Option volume and open interest over the last 30 days

Biggest options discovered:

symbol PUT/CALL commercial type feeling Ext. date exercise price total commercial price open interest volume
CMG PLACE ACT NEUTRAL 07.10.22 $1610.00 $240,300 fifteen 32
CMG PLACE ACT NEUTRAL 10/21/22 $1570.00 $212,400 12 32
CMG PLACE ACT NEUTRAL 09/23/22 $1610.00 $195,200 94 47
CMG PLACE ACT BEARY 06/16/23 $1800.00 $194,700 12 6
CMG CALL ACT BULLISH 12/16/22 $1575.00 $104,100 fifteen 10
symbol PUT/CALL commercial type feeling Ext. date exercise price total commercial price open interest volume
CMG PLACE ACT NEUTRAL 07.10.22 $1610.00 $240,300 fifteen 32
CMG PLACE ACT NEUTRAL 10/21/22 $1570.00 $212,400 12 32
CMG PLACE ACT NEUTRAL 09/23/22 $1610.00 $195,200 94 47
CMG PLACE ACT BEARY 06/16/23 $1800.00 $194,700 12 6
CMG CALL ACT BULLISH 12/16/22 $1575.00 $104,100 fifteen 10

Where does Chipotle Mexican Grill stand right now?

  • With a volume of 304,837, the price of CMG is down -2.76% to $1544.7.
  • RSI indicators are suggesting that the underlying stock may be approaching oversold.
  • The next earnings are expected to be released in 32 days.

What the experts say about Chipotle Mexican Grill:

  • Bernstein downgraded its action to Outperform with a price target of $2000
  • Stephens & Co. downgraded its action to Overweight with a price target of $1900
  • Cowen & Co. decided to maintain its Outperform rating on Chipotle Mexican Grill, which currently has a price target of $1950.

Options are a riskier asset compared to just stock trading, but they have higher profit potential. Reputable options traders manage this risk by educating themselves daily, entering and exiting trades, following more than one indicator, and following the markets closely.

If you want to stay up to date with the latest options trades for Chipotle Mexican Grill, Benzaga Pro gives you real-time options trading alerts.