A whale with a lot of money to spend has taken a noticeably bullish stance on Chipotle Mexican Grill.
Looking at options history for Chipotle Mexican Grill (NYSE:CMG) we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $298,970 and 8, calls, for a total amount of $399,950.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $800.0 to $1900.0 for Chipotle Mexican Grill over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $800.0 to $1900.0 in the last 30 days.
Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CMG | PUT | TRADE | BEARISH | 01/28/22 | $1690.00 | $152.0K | 18 | 4 |
| CMG | CALL | TRADE | BEARISH | 03/18/22 | $1450.00 | $68.1K | 10 | 282 |
| CMG | PUT | TRADE | BULLISH | 01/19/24 | $1900.00 | $66.0K | 1 | 1 |
| CMG | CALL | TRADE | BEARISH | 03/18/22 | $1450.00 | $61.6K | 10 | 224 |
| CMG | CALL | TRADE | BULLISH | 06/17/22 | $800.00 | $51.5K | 8 | 1 |
Where Is Chipotle Mexican Grill Standing Right Now?
- With a volume of 430,780, the price of CMG is down -1.03% at $1364.21.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 15 days.
What The Experts Say On Chipotle Mexican Grill:
- Morgan Stanley upgraded its action to Overweight with a price target of $1920
- Oppenheimer upgraded its action to Outperform with a price target of $1925
- Keybanc has decided to maintain their Overweight rating on Chipotle Mexican Grill, which currently sits at a price target of $1850.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
