CMG – Chipotle (Last:698.98)

A query about this stock in the chat room yesterday allowed for some very timely bottom-fishing that could have produced a gain of as much as $548 per round lot for any trader who caught the low.  At 11:50 a.m., in response to a question about CMG, I responded as follows: “You could bottom-fish at 680.93, a target that comes from the 5-minute chart.” At the time, Chipotle shares were trading for around 683.72, down more than $9 on the day. Subscribers reported buying call options when the stock fell still lower, hitting the target on its way to an intraday bottom at 680.41.  Minutes later CMG erupted, hitting an intraday high at 686.41 that allowed subscribers an easy and profitable exit from the position. If any of you held onto a piece of it, please let me know in the chat room so that I can provide tracking guidance. _______ UPDATE (8:59 a.m. EST): Zounds!  The stock exploded in after-hours trading and is quoted at 698.98, pre-opening — up $14 from yesterday. Since subscribers are reporting “live” positions, I’ll track one of them — four Jan 10 690 calls purchased for 6.10 (as noted by ‘Dalawman’ yesterday in the chat room.) For now, offer two of the calls at-the-market on the opening. They are likely to be especially richly priced at the bell, since short-squeeze dynamics will obtain.