Moderately bullish activity in Chipotle (CMG), with shares up 38c, or 0.95%, near $40.05. Options volume more than double the daily average with 57k contracts traded and calls leading puts for a put/call ratio of 0.18, compared to a typical level near 0.66. Implied volatility (IV30) is higher by 0.9 points near 33.9,and above the 52wk median, suggesting an expected daily move of $0.86. Put-call skew steepened, indicating increased demand for downside protection.
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