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CMG

Chipotle Mexican Grill, Inc.Close $32.23EOD only

Max Pain

$32.40

Next expiry Jun 18, 2026

Expected Move

±$1.25

3.9% from close

Price Gap

+0.17

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.11

Slightly put-heavy

Consensus

5.0/10

Consensus signal

Published snapshot: Jun 12, 2026 close

End-of-day snapshot

This page reflects CMG options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 12, 2026 close

CMG Flow Report

Analysis based on market close June 12, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 7.4% from MP; +1 VIX 18

Watch next session: $40 put wall; July $33 call open interest growth

Flow Summary

Net premium: -$12.6M bearish

P/C volume ratio: 0.58

P/C OI ratio: 1.11

CMG flow is mixed: net premium negative and elevated put OI ratio suggest bearish lean, but positive GEX and gamma pinning (SPX up) cap downside. Unusual call prints at $33-34 and heavy put activity at $40 indicate speculation vs hedging. VIX 18 supports moderate volatility.

Notable Prints

CMG 2026-07-10 $33.00 Call

Vol: 4,685

OI: 193

Vol/OI: 24.3x

IV: 37.1%

Notional: ~$468K

Intent: Speculative

Read-through: Bullish

CMG 2026-06-18 $33.50 Call

Vol: 970

OI: 116

Vol/OI: 8.4x

IV: 37.1%

Notional: ~$19K

Intent: Speculative

Read-through: Bullish

CMG 2026-07-02 $34.00 Call

Vol: 816

OI: 111

Vol/OI: 7.3x

IV: 38.0%

Notional: ~$39K

Intent: Speculative

Read-through: Bullish

CMG 2026-06-18 $39.20 Put

Vol: 2,644

OI: 576

Vol/OI: 4.6x

IV: 118.4%

Notional: ~$2.3M

Intent: Hedge

Read-through: Downside

CMG 2026-06-26 $35.00 Call

Vol: 1,000

OI: 265

Vol/OI: 3.8x

IV: 40.6%

Notional: ~$16K

Intent: Speculative

Read-through: Bullish

Institutional Positioning

Call additions: Call additions at $33 (7/10) vol/oi 24.3 and $33.5-$35 strikes show bullish bets near spot.

Put additions: Put additions at $39.2, $37.2, $40 (6/18) vol/oi 3-4.6, high IV (86-121) indicate bearish hedging.

GEX/DEX consistency: GEX +$1.6M (pinning) and DEX +24.5M shares (long delta) consistent with bullish flow.

OI clusters: Largest OI: $33 call (193 oi, 4685 vol) and $40 put (1708 oi, 5136 vol) key levels.

Hedging evidence: High put volume at $37-$40 strikes (IV 86-121) suggests collar/protective put positioning.

Max pain context: Spot above MP (pinning), gamma flip at $25 (22.4% below spot).

Signal vs Noise

~Large call volume at $33 (vol/oi 24.3) is strong bullish signal.

~High put volume at $40 (vol/oi 3.0) with elevated IV signals institutional hedging.

~Smaller prints at $35 call and $48 put are likely noise given lower vol/oi ratios.

Key Conclusions

📈Massive call sweep at $33 (7/10) vol/oi 24.3 signals aggressive bullish positioning near spot.

🛡️Heavy put buying at $39.2-$40 strikes with high IV indicates institutional hedging or downside protection.

⚖️Flow mixed but GEX/DEX positive; spot above MP suggests potential pin action near $32.

How to Use These Reports

This flow reflects the market close on June 12, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.