Mixed options sentiment in Chipotle (CMG), with shares up 22c, or 0.5%, near $42.84. Options volume relatively light with 42k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.58. Implied volatility (IV30) dropped 0.39 near 27.81,in the bottom quartile of the past year, suggesting an expected daily move of $0.75. Put-call skew steepened, indicating increased demand for downside protection.
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