Saturday, January 05, 2008
Chiptle Mexican Grill (CMG) puts
We just booked a nice gain (+100%) on the Jan $130 puts. With domestic restaurant stocks in free fall, this stock looked way overvalued at 50x 2008 earnings estimates. If same store sales slow, this stock still has downside toward $100. I will look to re-load in more downside puts if the stock rebounds in coming weeks.

