TXNTexas Instruments Incorporated
Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $280.5B|NASDAQ
● 2026-05-15$308.17
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +64.1%YTD +73.6%7D +7.1%
Options Vol
18,095
30D
Implied Move
±12.7%
IV Rank
46%
TXN Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
6.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 78.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.70x — IV ≤ HV
Sector Relative≤50%
Sector percentile 36% — below sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 47.6% — normal range
Spread-Adjusted Value
<80%Effective IV 62.0% (ATM 47.6% + spread 7.2% + bias) — good value
Execution Efficiency
<3.0%Total drag 20.51% (spread 7.20% + slippage 13.31%) — high friction
Vega Efficiency
≥5.0Vega efficiency 34.49 (vega 24.830 / spread 7.20%) — efficient
Sentiment
Bullish or bearish?
6.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +5%, Raw: +10%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +5% (neutral) — Raw: +10%
OI Skew Magnitude
≥15%|OI skew| 2.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +27.2%, OI skew +2.1% — aligned
Conviction Quality
≥2/3 conditions0-DTE 27%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -26%, ATM: -32%, OTM: +32% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 52% — neutral vs sector
Activity
Unusual activity?
3.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 6.5% — 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 +13.2% (5d) — building
Sector Relative≥60%
Sector activity percentile 45% — neutral vs sector
Trade Quality
≥30%Large trade volume 35% — institutional presence
Execution Urgency
≥60%Aggressive execution 31% — patient
Flow Conviction
≥30Conviction +5 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.5
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 7.2% — wide
Adequate OI
≥10,000OI 280,200 — deep
Active Volume
≥500Volume 18,095/day — active
Reasonable Cost
≤$0.50$0.36 to cross — cheap
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 38% — tighter than sector
Order Book Depth
≥100 contractsDepth 112.80000000000001 contracts (bid:44.1 ask:68.7) — adequate
Execution Quality
<1.0%Avg slippage 13.31% — poor
Timing
Is now a good time?
6.8
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +0.8% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 78% — seller opportunity
Event Detection
≥10pts kinkIV kink 2.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 62.78 — 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 +5% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 65 (ITM 20% + inst 35%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.3
bullishIV cheap, bullish flow
Long Puts5.4
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.4
bullishIV too cheap, bullish flow
Covered Call4.5
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.