Moderately bullish activity in Chipotle (CMG), with shares up 26c, or 0.66%, near $38.88. Options volume relatively light with 32k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.81. Implied volatility (IV30) is higher by 3.9 points near 52.14, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.28. Put-call skew flattened, suggesting a modestly bullish tone.
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