I have one potential earnings play with sufficient liquidity to warrant a further look on Tuesday, the first trading day after a three-day weekend in U.S. markets to observe the President’s Day holiday.

However, the prospect — TJX — has implied volatility that is a bit low in relation to its most recent broad movement, and even lower in connection with the one-year range. I shall analyze TJX further only if one or the other of those metrics rises to the 50th percentile or better of the range.

By Tim Bovee, Portland, Oregon, Feb. 17, 2017