Bullish flow in Chipotle (CMG), with shares up 44c, or 1.04%, near $43.27. Options volume relatively light with 47k contracts traded and calls leading puts for a put/call ratio of 0.32, compared to a typical level near 0.71. Implied volatility (IV30) is higher by 0.1 points near 28.46,in the bottom quartile of the past year, suggesting an expected daily move of $0.78. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Overweight at Piper Sandler.
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