Retailer Sees Options, Analyst Activity Before Next Week's Earnings

TJX Companies will announce its third-quarter results next week

Deputy Editor
Nov 9, 2023 at 1:22 PM
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TJX Companies Inc (NYSE:TJX) is gearing up for its third-quarter earnings report, due out after the close Wednesday, Nov. 15. Ahead of the event, the options pits are pricing in a 6.1% post-earnings swing for TJX, regardless of direction, which is slightly larger than the 4% move the stock has averaged over the past two years. Of those last eight reports, TJX closed a positive next-day session six times, including a 4.1% pop after in August.

Interestingly enough, given its fairly optimistic history, TJX is seeing a bearish options surge today. Put traders are also brushing off this morning's price-target hike from Barclays to $109 from $107. 

So far, 6,673 puts have been exchanged -- four times the amount typically seen at this point -- in comparison to 1,918 calls. The January 2025 60-strike put is the most popular, with new positions being bought to open there. It's also worth noting that a decent amount of call open interest (OI) at the 92-strike expires tomorrow. 

On the charts, TJX has been trading choppily since its Sep. 14 record high of $93.78. The $87 region has captured the stock's pullbacks since then, however, with help from the stock's ascending 100-day moving average. Since the start of the year, the equity is up 14.4%. 

TJX Nov9

 

 

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