Mike van Dulken, head of research at Accendo Markets, said: Markets [have reacted] very positively to better than expected full year growth (sales, profits, selling space), helping shares extend an October bounce to levels last seen in late September.
From a sentiment perspective, there are plenty of TJX bears that could be shaken out of their short positions should the shares extend their recent breakout.
On the sentiment front, there are plenty of CMG bears that could be shaken out of their short positions should the shares extend their current rebound.
Investors hoping to see Mylans shares extend todays rally looked to the December $20 strike to pick up approximately 2,600 calls for an average premium of $0.36 apiece.
EXPEs shares are currently up 7.40% on the day at $22.63 as of 12 50 pm ET. Bullish players hoping to see Expedias shares extend gains scooped up approximately 1,100 now in-the-money calls at the August $22.5 strike for an average premium of $0.95 each.
Should the shares extend today's rejection at their 20-week moving average, it could cause short-sellers to add to their bearish bets, increasing selling pressure on M. To take advantage of a retreat in the security, traders should consider the May 12.50 put.
