Call buyers hungry for short-term upside in Chipotle (CMG) with shares up 2%. The stock is up more than $1 this morning to $53.20, with heavy call volume of 20,000 contracts versus just 3,100 puts. Implied volatility (IV30) is also climbing, up nearly a point to 30.8% for the near term. June 6th 54-strike calls are leading the action, with 12,000 contracts trading in relatively small lots between $0.06 and $0.24. These 1-day options are currently 1.4% out of the money.
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