TJXTJX Companies, Inc. (The)
Options Analysis Report•RETAIL-FAMILY CLOTHING STORES
Market Cap $177.8B|NYSE
● 2026-04-17$160.68
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +29.6%YTD +4.1%7D -0.6%
Options Vol
6,859
30D
Implied Move
±6.2%
IV Rank
39%
TJX Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks8/9 checks passed
IV Rank
≤35%IV Rank 5.3% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 0.97x — IV ≤ HV
Sector Relative≤50%
Sector percentile 2% — below sector median
Term Structure
<1.1xFront/Back 0.89x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 23.7% — normal range
Spread-Adjusted Value
<80%Effective IV 42.4% (ATM 23.7% + spread 9.3% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 13.72% (spread 9.34% + slippage 4.38%) — high friction
Vega Efficiency
≥5.0Vega efficiency 26.89 (vega 25.116 / spread 9.34%) — efficient
Sentiment
Bullish or bearish?
6.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +15%, Raw: +4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +15% (bullish) — Raw: +4%
OI Skew Magnitude
≥15%|OI skew| 2.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +52.5%, OI skew +2.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 41%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -1%, ATM: +12%, OTM: -0% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 10% — very bullish vs sector
Activity
Unusual activity?
4.1
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 1.2x avg — normal
Turnover Rate
≥15%Vol/OI 5.1% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +7.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 48% — neutral vs sector
Trade Quality
≥30%Large trade volume 18% — mixed
Execution Urgency
≥60%Aggressive execution 33% — patient
Flow Conviction
≥30Conviction +15 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 9.3% — wide
Adequate OI
≥10,000OI 133,459 — deep
Active Volume
≥500Volume 6,859/day — active
Reasonable Cost
≤$0.50$0.47 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 4% — much tighter than sector
Order Book Depth
≥100 contractsDepth 194.0 contracts (bid:84.0 ask:110.0) — adequate
Execution Quality
<1.0%Avg slippage 4.38% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -10.7% — contango
IV Percentile Clarity
<30 or >70IV percentile 5% — buyer opportunity
Event Detection
≥10pts kinkIV kink -2.0pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 450.92 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +15% @ 58% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 48 (ITM 20% + inst 18%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls7.1
bullishIV cheap, bullish flow
Long Puts5.9
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, bullish flow
Covered Call3.8
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.