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Hawk’s Nest

Home and Fashion Retailer Sees Bull Trade Look for Continuation

by | Oct 31, 2022

TJX (TJX) spread selling 2000 November 64 puts to buy the $72.5/$78 call spreads, optimal environment for the off-price names. TJX has traded strong the past few months since making lows in June near 55 and recently broke out above monthly value at 65. Now a bit extended into highs but these spreads showing confidence that strength continues into November expiration which also captures earnings on 11/16 and potential to hit the 52 week highs at 77.35. Looking for a ideal entry point into the trend may come on a dip back to 70 with those short 64 puts showing a willing buyer at that lower level as well.