simonsays452

Don't touch CMG until it tests 472

NYSE:CMG   CHIPOTLE MEXICAN GRILL INC
31 0 0
Sentiment is awful, there's no earnings info for another month, and the chart looks disastrous. Appears like a perfect set-up for a contrarian trade. We're watching Jun 600 calls, but we're not touching them until the stock tests the 470-472 level. With IV at a new 52 week high today, the calls are just too expensive and there's still room for another ~$20 lower in the charts.
Comment: $CMG losses key support at $472. 400 next level.
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