Fiesta is over for Chipotle CMG

I tend to look at overpriced stocks because that’s where I see the most opportunity to cash in right now. I wish I caught this one sooner. This one hit my radar over a couple of months ago, but I never looked at the stock price until this month. CMG reached a high of $262 a share about a month ago and now today hit $215. My Jan 200 put has more than doubled in value and now my $180 Jan Puts I bought for $.60 may be ready to move higher. Still some bargains on this one for Jan Puts. You may want to wait for a bounce before buying in.  I noticed a story today on CMG that it was among the 5 lowest earnings yield in the restaurant industry. That may have something to do with the drop today. It seems to happen that way that for a long time these overpriced stocks get good news day after day and then when they turn, bad news just keeps pounding it down lower.