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
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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. 

 

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