This afternoon, Chipotle (CMG) reports earnings. This is a very richly-valued company.
I owned September puts on CMG for a long time, but I sold them this morning for several reasons. First, I’m moving away from options and sticking with straight equity plays; second, the chart isn’t that great, and third, I’m just way too nervous to hold in this kind of environment. All of which is to say that CMG is guaranteed to plunge, now that I’ve dumped those puts.
