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CMG

Chipotle Mexican Grill, Inc.Close $31.69EOD only

Max Pain

$31.50

Next expiry Jun 26, 2026

Expected Move

±$0.80

2.5% from close

Price Gap

-0.19

Distance to max pain

IV Rank

Low premium

P/C OI

1.31

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 24, 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 24, 2026 close

CMG Theta Report

Analysis based on market close June 25, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 19

IV Environment

IV Regime

Normal

IV vs VIX

IV 47.5% vs VIX 18.9, premium rich

Favorable?

Yes

Term structure: Front-end elevated (52% 1DTE), steep decay

💰IV well above VIX, attractive premium

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+2.5M)

Gamma flip: ~$25.00 — Approx — based on put OI concentration of 143,934 (22.6% below spot)

OI concentrations: Put wall $25-$30, call wall $35-$42

Verdict: Pinning likely at $31-$32 (max pain)

Premium Opportunities

Put credit spread

Sell 2026-07-02 $31.50/$31.00 put spread

Sell July 2 $31.50/$31 put spread to collect premium with defined risk.

Credit: $0.12-$0.14

Max loss: $0.36

BE: $31.36

Mgmt: Close at 50% profit or if spot breaches $31.50.

Iron condor

Sell 2026-07-02 $31.50/$31.00 put wing and $34.00/$34.50 call wing

Sell July 2 $31.50/$31 put and $34/$34.50 call wings for premium.

Credit: $0.18-$0.21

Max loss: $0.29

BE: 31.29 / 34.21

Mgmt: Manage at 50% profit; watch for expiry gamma pin. Liquidity warning: Liquidity constraints: long_call: Wide spread (77%).

Risk Alerts

!Expiry day gamma pin risk from concentrated OI at $31 and $32

How to Use These Reports

This theta reflects the market close on June 25, 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.