Option traders moderately bearish in Chipotle (CMG), with shares down 32c near $44.53. Options volume roughly in line with average with 52k contracts traded and calls leading puts for a put/call ratio of 0.62, compared to a typical level near 0.44. Implied volatility (IV30) is higher by 0.0 points near 26.49,in the bottom quartile of the past year, suggesting an expected daily move of $0.74. Put-call skew steepened, indicating increased demand for downside protection.
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