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CMG

Chipotle Mexican Grill, Inc.Close $31.86EOD only

Max Pain

$32.40

Next expiry Jun 18, 2026

Expected Move

±$0.61

1.9% from close

Price Gap

+0.54

Distance to max pain

IV Rank

100

High premium

P/C OI

1.06

Balanced positioning

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 17, 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 17, 2026 close

CMG Flow Report

Analysis based on market close June 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.7% from MP; +0.5 VIX 18

Watch next session: $37.20; $34.80; $42.00

Flow Summary

Net premium: -$15.2M bearish

P/C volume ratio: 1.94

P/C OI ratio: 1.06

Heavy put buying across multiple strikes, led by $40 and $39.20, with net premium negative $15.2M. Put/call ratio 1.94. Unusual prints signal aggressive downside positioning. Bearish regime confirmed. Key invalidation above $42.

Notable Prints

CMG 2026-06-18 $39.20 Put

Vol: 1,932

OI: 575

Vol/OI: 3.4x

IV: 280.5%

Notional: ~$1.5M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

CMG 2026-06-18 $40.00 Put

Vol: 5,623

OI: 1,701

Vol/OI: 3.3x

IV: 242.2%

Notional: ~$4.5M

Intent: Bearish positioning

Dual read: Hedging or bearish bet

Read-through: Large volume, bearish sentiment

CMG 2026-06-18 $37.20 Put

Vol: 1,265

OI: 403

Vol/OI: 3.1x

IV: 227.5%

Notional: ~$582K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

CMG 2026-06-18 $45.00 Put

Vol: 628

OI: 270

Vol/OI: 2.3x

IV: 379.7%

Notional: ~$779K

Intent: Bearish directional

Dual read: Hedging or speculation

Read-through: High IV, demand for protection

CMG 2026-06-18 $48.00 Put

Vol: 260

OI: 150

Vol/OI: 1.7x

IV: 436.7%

Notional: ~$399K

Intent: Hedging or bearish

Dual read: Extremely high IV

Read-through: Implies fear of large drop

Institutional Positioning

Call additions: Minimal; net premium -15.2M, P/C vol 1.94

Put additions: Heavy at $40, $39.2, $37.2 and Dec $60.4 put

GEX/DEX consistency: Consistent: neg GEX -19.5M, pos DEX +23.9M from put sales

OI clusters: Put OI at $40 (1701), $39.2 (575), $37.2 (403), $45 (270)

Hedging evidence: Protective puts possible; long-dated put suggests hedging

Max pain context: Spot ~1.7% below MP; bearish pin risk near $40

Signal vs Noise

~Heavy put buying at key strikes is real bearish signal

~Minimal call activity confirms bearish tilt

~Negative net premium and gamma align with regime

Key Conclusions

🐻Put flow dominates; net premium -$15.2M, P/C vol 1.94

⚠️Neg gamma & spot below MP amplify downside risk

How to Use These Reports

This flow reflects the market close on June 17, 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.