Chipotle Stock Nabs New Record on Expansion Plans

Call volume is running at double the intraday average

Digital Content Manager
Jul 18, 2023 at 10:47 AM
facebook X logo linkedin

Chipotle Mexican Grill, Inc. (NYSE:CMG) is expanding, with restaurants set to open in Kuwait and the United Arab Emirates in 2024. This comes as the restaurant chain looks to introduce more than 255 new restaurants still this year, with 7,000 of those locations set to open in North America. 

CMG was last seen up 1.2% at a brand new record high of $2,152.92, after receiving a price-target hike from UBS to $2,470 from $2,250. More bull notes could be on their way, too, as the 12-month consensus target price of $2,162.72 is a now a discount to the stock's current levels.

The shares are bouncing off their 60-day moving average, which has acted as support since early March, after more than two months consolidating around the $2,050 mark. CMS is today pacing for its third-straight daily win, and now boasts a 63% year-over-year lead.

Bullish bets are already running at double the intraday moving average, with 1,475 calls across the tape so far, compared to 403 puts. Most popular by far is the July 2,150 call.

This denotes a shift in sentiment, per Chipotle Mexican Grill stock's 50-day put/call volume ratio of 1.14 over at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 94% of readings in its annual range.



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.