Option traders moderately bearish in Chipotle (CMG), with shares down 40c near $41.02. Options volume more than double the daily average with 129k contracts traded and puts leading calls for a put/call ratio of 1.1, compared to a typical level near 0.63. Implied volatility (IV30) is higher by 0.1 points near 29.25,and below the 52wk median, suggesting an expected daily move of $0.76. Put-call skew flattened, suggesting a modestly bullish tone, following an upgrade to Buy at Rothschild & Co Redburn.
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