One sure-fire bet for years has been to be bullish the purveyor of so-so burritos Chipotle. I’ve never……….ever………understood the appeal, but I had given up shorting the damned thing. Well, after hours, the tides have finally turned. Those bold enough to be long puts are going to have huge gains in the morning, and the poor souls who actually sold puts against CMG are going to get smacked. With the stock down $50 already, it looks like the glory days of the over-hyped grill are perhaps at an end. It’s about time.
