StockFetcher Forums · General Discussion · CMG earnings watch<< >>Post Follow-up
karennma
6,831 posts
msg #81543
Ignore karennma
modified
10/22/2009 10:14:55 AM

at the close.
Gapped up $4 at the open!!

Who doesn't like Chipotle?
:>)


karennma
6,831 posts
msg #81638
Ignore karennma
10/23/2009 3:32:24 PM

OMG!!
We missed CMG yesterday!!
UP HUGE!!


Kevin_in_GA
4,553 posts
msg #81640
Ignore Kevin_in_GA
modified
10/23/2009 3:51:33 PM

Down even huger today, though.

Given the big drop today, what is the best approach to trading this?

1. Play the current momentum with Nov 85.00 puts (currently up 114% at 5.10) expecting it to drop further.

2. Fade the gap with Nov 85.00 calls (currently down 73% at 1.70) expecting it to rebound.

After the big move up in earnings, I would have faded the gap if I were paying attention. Now with that gap more than filled, not so sure what the better play might be.

chetron
2,817 posts
msg #81643
Ignore chetron
10/23/2009 4:23:14 PM

i don't like Chipotle, sorry = )

Kevin_in_GA
4,553 posts
msg #81655
Ignore Kevin_in_GA
modified
10/23/2009 5:30:10 PM

Two days ago CMG was below the lower Bollinger Bands(16,2.5) ahead of its earnings announcement - a signal that a rebound is probable.

The next day it exploded.

Today it is once again below the lower BB - unless the stock futures are horrendous for Monday, I would go long the this one at the open.

BIG unfilled gap today. The last unfilled gap was on 8/14, and it was also a gap down. It was filled on 8/20. But the gap was small compared to today.



StockFetcher Forums · General Discussion · CMG earnings watch<< >>Post Follow-up

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