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CMG

Chipotle Mexican Grill, Inc.Close $32.49EOD only

Max Pain

$31.50

Next expiry Jun 26, 2026

Expected Move

±$1.29

4.0% from close

Price Gap

-0.99

Distance to max pain

IV Rank

100

High premium

P/C OI

1.05

Balanced positioning

Consensus

6.0/10

Bearish tilt

Published snapshot: Jun 18, 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 18, 2026 close

CMG Flow Report

Analysis based on market close June 18, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.5% from MP; +1 VIX 16

Watch next session: Monitor $34.80 support; Watch weekly expiration pin; VIX direction

Flow Summary

Net premium: -$8.6M bearish

P/C volume ratio: 0.74

P/C OI ratio: 1.05

Mixed flow but positive gamma pinning and aggressive call buying in near-dated expirations tilt bullish. Put activity is hedging, not structural selling. Net premium negative but call volume dominant.

Notable Prints

CMG 2026-06-26 $34.50 Call

Vol: 1,416

OI: 208

Vol/OI: 6.8x

IV: 35.9%

Notional: ~$21K

Intent: bullish speculation

Dual read: covering short calls

Read-through: expects stock above $34.50

CMG 2026-06-26 $32.50 Call

Vol: 1,043

OI: 302

Vol/OI: 3.5x

IV: 34.7%

Notional: ~$65K

Intent: bullish bet

Read-through: targets $32.50+ by 6/26

CMG 2026-07-02 $35.00 Call

Vol: 1,062

OI: 388

Vol/OI: 2.7x

IV: 39.6%

Notional: ~$20K

Intent: bullish continuation

Dual read: calendar spread component

Read-through: rally to $35 by early July

CMG 2026-06-18 $45.00 Put

Vol: 628

OI: 270

Vol/OI: 2.3x

IV: 262.5%

Notional: ~$779K

Intent: deep hedge or bearish

Read-through: expects drop below $45 soon

CMG 2026-06-26 $34.00 Call

Vol: 1,385

OI: 643

Vol/OI: 2.1x

IV: 36.3%

Notional: ~$24K

Intent: bullish upside

Read-through: anticipates move above $34

Institutional Positioning

Call additions: Short-dated calls at $34.5, $32.5, $35, $34 strikes; 6/26 & 7/2 exp.

Put additions: Puts at $45 (deep OTM, high IV), $34.8, $32.5, and Dec $60.4.

GEX/DEX consistency: GEX +$1.2M, DEX +23.7M — both positive, consistent with pinning.

OI clusters: Largest OI near $34.5C, $32.5C, $34.8P, $45P.

Hedging evidence: High IV on 6/18 puts (262%) and long-dated put indicate tail hedging.

Max pain context: Spot ~1.5% above MP; GEX pinning near $34-35.

Signal vs Noise

~Unusual call volume at $34.5, $32.5, $35 is real signal; large put OI at $34.8 indicates hedging.

~Low vol/oi ratio on some prints is noise.

Key Conclusions

📊Institutions adding calls near pin, hedging with high-IV puts.

How to Use These Reports

This flow reflects the market close on June 18, 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.