Options Traders Target TJX Stock After Earnings

The stock has been steadily rising on the charts

Deputy Editor
Aug 17, 2022 at 10:40 AM
facebook twitter linkedin


As retail earnings continue to roll in, T.J. Maxx and Marshall's parent TJX Companies Inc (NYSE:TJX) announced its second-quarter report before the bell this morning. The company reported profits of 69 cents per share, beating estimates by 3 cents. However, revenue and comparable store sales came in lower than anticipated, and TJX slashed its full-year guidance as well. Rebounding slightly from its earlier losses, TJX stock was last seen up 0.4% at $66.92. 

The stock has been on the rise since late July, though pressure at the $68 level, which the stock also ran up to in April, appears to be keeping a lid on gains. TJX recently broke above its 200-day moving average, however, which rejected the shares during that April peak. Year-to-date, the equity is down 11.6%. 

Though analysts have yet to chime in on the event, options volume is running at seven times the intraday average, with 8,627 calls and 4,495 puts across the tape so far. The October 50 call is the most popular, followed by the September 67.50 call. 

It's also worth noting that shorts have been jumping on the bandwagon. Short interest has risen 29.1% during the last month. 

 

Stop leaving money on the table with the same old broken options trading approach...

There is no options strategy that more perfectly capitalizes during earnings season better than this simple call and put buying strategy. Perfect for aggressive traders looking to recover their suffering portfolios so far in 2022. With the simplest possible options strategy, Schaeffer's team with 100+ years of options trading excellence, target 200% gains on every single trade. So many trades are being beaten down by the market, but don't be one of them! Don't waste another second... join us right now before the next trade is released! 

 
Schaeffer's Daily Bulletin Offer
 


 


 
Special Offers from Schaeffer's Trading Partners