I've tried shorting CMG before, but got too greedy on the downside. I think we're transitioning into a bear market, but for tax reasons, high flyers like CMG won't get pounded until next year. I could write a book about what's wrong with Chipolte but I'll limit it to just one reason. Boredom. Four years ago I ate at Chipolte several times a week. Its been over a year since I last stepped into one.

The actual target price will be determined by the lower Bollinger band, which is currently $289 and rising.

One way to play this $25 recommendation is to do  a credit bear call spread. Sell an Oct 300 call @ $35 and buy an Oct 350 call @9. Notice that the $9 time premium on the 300 pays for the 350. You will receive a $2600 credit per contract and must put up only $2400 margin.

It is unlikely that the 300 will expire worthless, but if CMG falls quickly, you might be able to close out the 300 for a profit and then close out the 350 on the rebound.