Earlier today, Chipotle Mexican Grille Inc (NYSE:CMG) stock soared to a record high of $2,047.31 after the restaurant chain's first-quarter earnings and revenue exceeded analyst expectations. CMG is currently up 14% to trade at $2,028.77, after no fewer than 19 analysts hiked their price targets. Since the start of the year, the equity is up 46.3%. 

Unsurprisingly, CMG is seeing an influx of options activity, with 34,000 calls and 29,000 puts exchanged so far, volume that's already 7.2 times the average daily amount. The weekly 5/5 2,100- and 2,030-strike calls seeing the most activity. 

Calls were popular leading up to the earnings event, per CMG's 10-day call/put volume ratio of 1.24 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 94% of readings from the past year. 

The shares of Biomea Fusion Inc (NASDAQ:BMEA) are soaring today, up 88.1% at $29.03 at last glance and earlier hitting a record high of $29.49, all of which contributed to an impressive 243.9% year-to-date lead. The biotech name reported promising data from a mid-stage study of its diabetes therapy, BMF-21, after which Piper Sandler lifted its price target to $40 from $16. 

Options traders are blasting BMEA in response, with 2,482 calls and 5,046 puts exchanged so far, or 15 times the intraday average. The April 30 call and 15 put are the most popular, with new positions opening at both. 

Analysts are wholeheartedly bullish on Biomea Fusion stock, with all six firms in coverage carrying a "strong buy" rating. The 12-month consensus price target of $30.17 is a slim 4.2% premium to current levels, though, indicating additional bull notes may be on the horizon.

Stocks are rebounding as Wall Street continues to unpack yesterday's interest rate hike, with investors considering the Fed's policy for the rest of the year. In the meantime, here are three stocks making big moves today. 

Hindenburg Sends Block Stock Tumbling

Block Inc (NYSE:SQ) is down 14% at $62.47 at last glance, earlier trading as low as $56.50 after notorious short seller Hindenburg Research published a new position on the stock, saying it has "wildly overstated its genuine user counts and has understated its customer acquisition costs." Year-over-year, the equity is down 56.3%, currently trading around its year-to-date breakeven level. 

So far today, 334,000 calls and 330,000 puts have been exchanged, which is already 5.6 times the stock's typical daily volume. The Weekly 3/24 65-strike call is the most active contract, with new positions being opened there as well as the next 33 most popular positions. 

Riot Stock Jumps Alongside Crypto

Conversely, Riot Platforms Inc (NASDAQ:RIOT) is soaring today, up 17.2% at $9.48 at last check, as the shares enjoy tailwinds from the cryptoverse. Bitcoin (BTC) is staging a rebound, while several other cryptocurrencies move higher as well. Now trading at its highest level since August, RIOT is up 178.2% year-to-date. 

Options traders are targeting the security at double the intraday average, with 111,000 calls and 50,000 puts across the tape so far. The weekly 3/24 9-strike call is the most active, with new positions opening there. 

Options Traders Target Netflix Stock Bounce

Netflix Inc (NASDAQ:NFLX) is up 7.6% at $316.24 at last glance, and at the top of the S&P 500 Index (SPX) today. A report from YipitData said the company's gross additions have improved in Canada. Plus, the streaming name has ramped up its content investments. On the charts, long-term support at the 140-day moving average kept this month's pullback in check. Plus, today's jump has NFLX moving back above its year-to-date breakeven level. 

Options traders are chiming in on today's bounce, with 205,000 calls and 193,000 puts exchanged so far -- double the intraday average amount. The weekly 3/24 320-strike call is the most active, with new positions being opened there. 

GameStop Corp's (NYSE:GME) surprise fourth-quarter results beat sent its shares soaring today, giving other former meme stocks a lift as well. The video game name posted its first profitable quarter in two years, while its gross margin also rose year-over-year. At last glance, GME was up 41% at $24.87, earlier trading as high as $27.00.

GameStop stock was heavily shorted coming into today, with short interest representing 22.1% of the stock's available float. It would take over 12 days to buy back these bearish bets, at GME's average pace of trading.

Today's bull gap has GameStop stock breaking above a confluence of moving averages above the $7 level, including its 120-day trendline, which kept a cap on its early-February rally. GME has also moved into positive territory in 2023, now up 32.5% year-to-date. 

So far today, 354,000 calls and 252,000 puts have been exchanged, which is 10 times the amount typically seen at this point. The weekly 3/24 25-strike call is the most active, followed by the 30-strike call in the same weekly series, with new position being opened at both. 

Options bulls were targeting the security ahead of today as well. GME's 50-day call/put volume ratio of 2.97 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 98% of readings from the past year. 

Meanwhile, the pair of analysts covering GME lean pessimistic, with one a "hold" and one "strong sell," though the 12-month consensus price target of $13.25 is now a 45% discount to current levels. Wedbush today raised its price target to $6.50 from $5.30, however. 

Though bank stocks have been center stage of late, there are plenty of other noteworthy stocks to take a look at. Specifically, we're taking a look at a few of the names moving on analyst notes. 

Options Traders Target Foot Locker Stock

Foot Locker Inc (NYSE:FL) is up 5% to trade at $43.10 at last glance, after Telsey Advisory upgraded the stock to "outperform" from "market perform," with a price-target hike to $50 from $39. The shares are attempting to break back above their 40-day moving average, which acted as support before Monday's bear gap. On track for its third-straight day of gains since that drop, the equity is up 14% year-to-date.  

Options traders are circling FL at four times the typical volume seen at this point, with 6,830 calls and 6,783 puts exchanged so far. The March 42 call is the most popular, followed by the April 35 put, with new positions being opened at the latter. 

Progressive Stock Moving Back Toward Highs

Wells Fargo upgraded Progressive Corp (NYSE:PGR) to "overweight" from "underweight," and raised its price objective to $158 from $116, boosting the stock 5.4% to trade at $142.34 at last glance. Longer term, PGR has support at its 100-day moving average, which caught this month's pullback after its Mar. 6 record high of $146.50. 

Call traders are targeting PGR amid the climb, with 2,715 calls across the tape so far -- triple the intraday average. The April 150 call is the most popular, followed by the May 145 call. 

Square Stock Continues Bounce

Block Inc (NYSE:SQ) received an upgrade from Mizuho to "buy" from "neutral," with a price-target hike to $93 from $80. SQ is up 1.5% at $75.21 at last glance, and on track for its third-straight day of gains. A confluence of moving averages helped provide support for the stock's most recent pullback, most notably the 120-day trendline. Year-over-year, the equity is down 35.2%, but hanging on to a 19.7% year-to-date lead. 

The stock market has had a volatile day, as investors unpack jobs data and recent comments from Fed Chair Jerome Powell, while looking ahead to tomorrow's nonfarm payrolls report. In the meantime, we're taking a closer look at a few stocks making big moves today. 

Options Traders Blast Sinking Bank Name

SVB Financial Group (NASDAQ:SIVB) is plummeting on the charts, after the firm this morning announced that it will offer $1.25 billion of its common stock and $500 million of depositary shares. Silvergate Capital's (SI) liquidation announcement and subsequent record low for its shares is weighing on the bank sector as well. 

At last glance, SIVB was down 47.2% at $141.44, and trading at its lowest levels since the start of the pandemic. This bear gap has the shares below all notable short- and long-term moving averages, including former support at its 100-day trendline. Year-over-year, the equity is down 73.4%. 

Options traders are blasting SVB Financial stock amid the negative price action, with 18,000 calls and 21,000 puts exchanged so far -- 52 times the intraday average. The April 200 call is the most popular, with new positions being opened there. 

Revenue Miss Hits JD.com Stock

China-based e-commerce stock JD.com Inc (NASDAQ:JD) is down 10.5% to trade at $42.05 at last glance, after the company's fourth-quarter revenue miss. Now trading at its lowest levels since early November, the equity is down 25% year-to-date. Plus, JD's descending 20-day moving average has been guiding the shares lower for the past month. 

Over in the options pits, 113,000 calls and 65,000 puts have crossed the tape, which is four times the intraday average volume. The weekly 3/10 42-strike put is the most popular, with new positions being bought to open there. 

General Electric Stock Hits Highest Level Since 2018

On the other hand, the shares of General Electric Co (NYSE:GE) are up 6.5% at $92.62 at last glance, earlier hitting a five-year high of $94.94. The company reaffirmed its strong 2023 guidance earlier in the day, and then later unveiled a plan for a spinoff of its power business, GE Vernova, during its investor meeting. Year-to-date, the equity is up 42%. 

Options traders are targeting GE at five times the intraday average, which is 3.7 times the usual daily volume already. So far, 44,000 calls and 35,000 puts have exchanged hands, with the weekly 3/10 94-strike call seeing the most activity. 

PepsiCo Inc (NASDAQ:PEP) is one of the first companies to kick off the new earnings season, announcing its third-quarter report before the bell this morning. The beverage giant posted earnings of $1.97 per share on revenue of $21.97 billion, both higher than the $1.84 per share and $20.84 billion analysts anticipated. PepsiCo also lifted annual revenue and profit expectations on strong demand for soda and snacks, despite price increases. 

At last glance, PepsiCo stock was up 4.6% to trade at $170.10, with rival Coca-Cola (KO) getting a boost from the report as well. Though PEP had been moving lower since its Aug. 17 record high of $181.07, it still sports a 7.5% year-over-year lead. Today's pop also has shares back above the 320-day moving average.

Unsurprisingly, options traders were quick to the draw this morning. So far, 22,000 calls and 17,000 puts have crossed the tape, which is seven times the intraday average. The October 170 call is the most active, with new positions currently being bought to open there. 

This denotes a shift in sentiment, per PepsiCo stock's 10-day put/call ratio of 1.00 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits higher than 92% of annual readings.

Analysts have yet to respond to the news, though the majority are already bullish. Of the 11 firms in coverage, eight carry a "strong buy" rating, and three a "hold." Plus, the 12-month consensus target price of $181.73 sits at a 7.5% premium to current levels.