Moderately bullish activity in Chipotle with shares up 1.26%

Moderately bullish activity in Chipotle (CMG), with shares up 52c, or 1.26%, near $41.49. Options volume roughly in line with average with 22k contracts traded and calls leading puts for a put/call ratio of 0.17, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 0.1 points near 51.4, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.34. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Positive at BWG Global.