This Is What Whales Are Betting On Chipotle Mexican Grill

Chipotle Mexican Grill, Inc. -0.71% Pre

Chipotle Mexican Grill, Inc.





0.00% Pre

Deep-pocketed investors have adopted a bullish 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 12 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 58% leaning bullish and 41% bearish. Among these notable options, 2 are puts, totaling $52,130, and 10 are calls, amounting to $1,033,609.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1900.0 to $2350.0 for Chipotle Mexican Grill over the recent three months.

Volume & Open Interest Trends

In today's trading context, the average open interest for options of Chipotle Mexican Grill stands at 52.7, with a total volume reaching 51.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Chipotle Mexican Grill, situated within the strike price corridor from $1900.0 to $2350.0, throughout the last 30 days.

Chipotle Mexican Grill Call and Put Volume: 30-Day Overview

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
CMG CALL TRADE NEUTRAL 06/21/24 $1900.00 $456.9K 23 0
CMG CALL TRADE BEARISH 06/21/24 $2250.00 $249.6K 63 12
CMG CALL TRADE BEARISH 12/29/23 $2000.00 $56.2K 11 2
CMG CALL TRADE BULLISH 01/17/25 $2350.00 $55.6K 25 4
CMG CALL TRADE BULLISH 01/17/25 $2350.00 $55.6K 25 3

About Chipotle Mexican Grill

Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $8.6 billion in 2022. The Mexican concept is predominately company-owned (it recently inked a development agreement with Alshaya Group in the Middle East), with a footprint of nearly 3,200 stores at the end of 2022, heavily indexed to the United States, although the firm maintains a small presence in Canada, the U.K., 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.

Chipotle Mexican Grill's Current Market Status

  • With a volume of 87,765, the price of CMG is down 0.0% at $2278.38.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 39 days.

What Analysts Are Saying About Chipotle Mexican Grill

3 market experts have recently issued ratings for this stock, with a consensus target price of $2425.0.

  • An analyst from Raymond James has decided to maintain their Outperform rating on Chipotle Mexican Grill, which currently sits at a price target of $2450.
  • Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for Chipotle Mexican Grill, targeting a price of $2425.
  • Reflecting concerns, an analyst from Wedbush lowers its rating to Neutral with a new price target of $2400.

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 want to stay updated on the latest options trades for Chipotle Mexican Grill, Benzinga Pro gives you real-time options trades alerts.

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