Bearish flow noted in Chipotle with 4,753 puts trading, or 1.9x expected. Most active are May-23 1500 puts and 3/24 weekly 1600 puts, with total volume in those strikes near 1,400 contracts. The Put/Call Ratio is 2.21, while ATM IV is up nearly 3 points on the day. Earnings are expected on April 25th.
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Published first on TheFly
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