CHIPOTLE MEXICAN GRILLretest this high. clear the previous highs.
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Cmgshort
CMG Weekly H&S Forming Into +GEX Level - weekly is forming right shoulder in distribution cycle right at 1600 psych + positive gamma level
- consistent with /ES local top of 4060 (or 4200 on impulse wave)
- invalidated if break above 1630s
- high risk counter trend trade against current market conditions & positive gamma ratios
- BTO Feb 1400p @ 10.85
- IV on puts is cheap + upcoming ER should elevate Feb premiums
- gamma conditions for this week and next week's expiry outlined below
Ticker: NYSE:CMG
Exp. Dates. Greater Than: 2023-01-27
Total_OI:= 39443.00
COTMC:= 1694.77
CITMP:= 1634.34
COI:= 1600.00
plus_GEX:= 1600.00
Spot_Price:= 1596.86
COTMP:= 1571.13
Pos_Trans:= 1535.00
ZeroGEX:= 1505.00
CITMC:= 1493.08
SMA50:= 1488.47
EMA21:= 1487.95
Neg_Trans:= 1440.00
POI:= 1400.00
minus_GEX:= 1400.00
GEX_Ratio:= 1.63
Ticker: NYSE:CMG
Exp. Dates. Greater Than: 2023-02-03
Total_OI:= 35202.00
COTMC:= 1694.77
CITMP:= 1634.34
COI:= 1600.00
plus_GEX:= 1600.00
Spot_Price:= 1596.86
Pos_Trans:= 1575.00
COTMP:= 1571.13
ZeroGEX:= 1505.00
CITMC:= 1493.08
SMA50:= 1488.47
EMA21:= 1487.95
Neg_Trans:= 1440.00
POI:= 1400.00
minus_GEX:= 1400.00
GEX_Ratio:= 1.49
Chipotle Mexican Grill CMG options ahead of earningsLooking at the Chipotle Mexican Grill CMG options chain today, i would buy the $1200 puts with
2022-9-16 expiration date for about
$36.42 premium.
Looking forward to read your opinion about it.
$CMG PT $1,450$CMG I believe we can see low prices towards the end of the year. A COVID free holiday season approaching who's going to be eating Chipotle instead of turkey? :) GLTA!
Short CMG? - MaybeSo, here we see CMG Weekly. Big wide range over 7+ years.
What's most interesting to me is we are certainly at the top of that range.
Add to this that we are almost exactly 2x the width of the C19 fall.
Oh, and don't get me started on EPS and Price/Sales metrics, not that those matter, ever.
But just overall, C19 is still a thing, different states are different stages.
Does one REALLY think the growth will be able to keep up to sustain this valuation?
Yes, I'm looking to begin a short position this week. My guess is we fall back to ~1150 over the next 60 days.
Good luck everyone.
5.15.2020 CMG Short - Bearish divergence weekly, COVID19 pumpBearish divergence on the weekly
Sales worse than pre Covid19
Are sales going to be better after Covid19?
-NFA
CMG (2H) / Bullish Elliottwave CountAlthough, we see this poor channeling again, hard to believe this isn't an impulse (slope, extensions, 2x)... Another stock to watch.
Short CMG
Rejected off upper 2SD Bollinger Band and all time high to close yesterday with hanging man formation at pre-pandemic price. Daily RSI coming off overbought and MACD crossing. P/E ratio above 78. Risk/reward certainly favors the downside, retreating into the volume value area.
Your Chipotle Burrito is about to go sour - $CMG Shorting this baby because:
1. Hammer candlestick on daily
2. Triangle forming with two red candles already
3. Price touching upper Bollinger Band
4. TD Sequential is at count #9. One of the next two candles will be a TD count #1
This is like a ripe avocado about to fall and get smashed into a nice little side of guac. I say "little" because the reward on the short side is not great considering the current strength of the stock. I would set the stop loss on the high of the TD #7 candle of Jan 3. I would take 50% profit at 9EMA, and close out the rest at 20MA. I would also play this with puts considering the price of the stock.
