Option traders moderately bearish in Chipotle (CMG), with shares down 22c near $42.84. Options volume relatively light with 28k contracts traded and calls leading puts for a put/call ratio of 0.46, compared to a typical level near 0.62. Implied volatility (IV30) is higher by 0.7 points near 29.76,and below the 52wk median, suggesting an expected daily move of $0.80. Put-call skew steepened, indicating increased demand for downside protection.
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