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CHIPOTLE MEXICAN GRILL INCCHIPOTLE MEXICAN GRILL INCCHIPOTLE MEXICAN GRILL INC

CHIPOTLE MEXICAN GRILL INC

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CMG trade ideas

Chipotle Mexican Grill Probes Old HighsChipotle Mexican Grill has been a slow-and-steady gainer in 2020. It was already investing in its online model before the pandemic, and that decision paid off handsomely as the country went into lockdown mode. CMG formed a bullish triangle in July and early August. It then broke out and surged to new all-time highs near $1,400 before rolling over with the rest of the market. This has brought CMG back to the top of the old triangle around $1,190 and its 50-day simple moving average (SMA). The shares may chop around and even potentially test $1,100ish if the S&P 500 keeps struggling. However, that might provide opportunities for buyers. CMG has one of the cleaner charts because it broke out to new highs recently without getting too overbought (like many technology names). It’s also interesting fundamentally, with the potential to benefit from either coronavirus returning or abating. Traders may want to watch it between $1,100 and $1,200, depending on their take of the broader market. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:CMGLong
by TradeStation
Short CMG? - MaybeSo, here we see CMG Weekly. Big wide range over 7+ years. What's most interesting to me is we are certainly at the top of that range. Add to this that we are almost exactly 2x the width of the C19 fall. Oh, and don't get me started on EPS and Price/Sales metrics, not that those matter, ever. But just overall, C19 is still a thing, different states are different stages. Does one REALLY think the growth will be able to keep up to sustain this valuation? Yes, I'm looking to begin a short position this week. My guess is we fall back to ~1150 over the next 60 days. Good luck everyone.
NYSE:CMGShort
by cmsinca
Earnings done - 7/31, 1000 puts - high reward/riskThe stock has low volume, and low options volume, so I usually avoid it. However with such a huge run up since March, indicators hint at profit taking to ensue. If selling picks up in next few days then stock should head towards 1000-1080. Best volume and price (still very low) is on 1000 strike for 7/31 expiry. I bought puts for 60 cents, and I will exit today or tomorrow if price and 30min charts do not support my trade idea.
NYSE:CMGShort
by OptionsRising
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