Mixed options sentiment in Chipotle with shares up 1.54%

Mixed options sentiment in Chipotle (CMG), with shares up 66c, or 1.54%, near $43.84. Options volume relatively light with 52k contracts traded and calls leading puts for a put/call ratio of 0.31, compared to a typical level near 0.68. Implied volatility (IV30) dropped 0.97 near 28.54,in the bottom quartile of the past year, suggesting an expected daily move of $0.79. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Overweight at Piper Sandler.