🐂 TXN $6.6M Jan-2027 LEAP Call — A Patient Bullish Bet on the Analog/Auto-Industrial Cycle Recovery

📅 June 2, 2026 | 🤝 Block Cross Detected

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🎯 The Quick Take

Someone just crossed $6.6 MILLION into the Jan-2027 $320 calls on Texas Instruments — a 7.5-month LEAP that sits patiently above two upcoming earnings prints and directly in the path of the analog/industrial cycle re-rating the Street is pricing in. This isn't a quick event play; it's a conviction bet that TXN keeps climbing from $302 toward the $340-$400 analyst price-target cluster by January 2027. With a known counterparty on the other side of this negotiated block, someone just locked in ≈$6.6M of exposure to a multi-quarter bull case in a single trade.

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📊 Company Overview

Texas Instruments (TXN) is the world's largest analog semiconductor manufacturer — the quiet infrastructure layer powering the physical world:

• Market Cap: ≈$275B (≈910M shares outstanding)
• Current Price: ≈$302.72 (52-week high $324.19 set May 26, 2026)
• Industry: Semiconductors — Analog & Embedded Processing (SIC: Electronic Components & Accessories)
• Primary Business: Analog chips (power management, signal conditioning, sensing) and embedded processors for automotive, industrial automation, personal electronics, and now AI data centers
• What makes TXN different from NVDA/AMD: TXN doesn't sell GPUs or AI accelerators. Its chips manage power, convert signals, and control motors and actuators. Every car, factory robot, power supply, and EV battery pack needs dozens of TXN chips. The company serves ≈100,000 customers across ≈80,000 SKUs — breadth that creates a cost and distribution moat no competitor can easily replicate.

2026 YTD: +82% through late May — driven by a massive Q1 2026 earnings beat and a surprise 800V AI data-center architecture announcement with NVIDIA on May 26 that converted TXN from a pure analog-cycle play into a dual-narrative analog + AI infrastructure name.

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💰 The Option Flow Breakdown

📊 What Just Happened

Key metrics at a glance:

• 💰 Premium paid: $43.79/contract × 1,500 contracts = $6.57M (representing 150,000 shares of notional exposure at ≈$302, worth ≈$45.4M)
• 📍 Strike: $320 — sits 5.7% OTM from the $302.72 spot
• ⏰ Duration: ≈7.5 months to expiration — a LEAP, capturing Q2 earnings July 21, Q3 earnings late October, and the holiday-season setup
• 🔀 Condition: SINGLE_LEG_CROSS_NON_ISO (cond 127) — a negotiated institutional block, not a lit-market sweep

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✅ OI UPDATE (2026-06-03) — BTO LEAP CONFIRMED. Last updated: 2026-06-03.

Snapshot	OI
2026-06-02 (pre-trade baseline)	1,141
2026-06-03 (post-trade resolving)	2,473
Δ	+1,332
Today's BTO size	1,500

The TXN Jan-2027 $320C open interest rose by +1,332 contracts — close to the 1,500-contract whale BUY (a small portion may have netted against pre-existing inventory at the strike). The borderline Vol/OI 1.36 provisional read resolved cleanly to BTO — the patient bullish bet on TXN's analog/auto-industrial cycle recovery + CHIPS Act FCF tailwinds is on the books through July 21 Q2 + late-October Q3 earnings.

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🤓 What This Actually Means — Plain English

Real talk: a TXN LEAP is a fundamentally different animal from an NVDA or AMD LEAP — and that distinction is everything.

When a whale buys a 7-month LEAP on NVDA or AMD, they're betting on a single variable: AI data-center capex. Will hyperscalers spend more on GPUs? One narrative, one catalyst, one binary.

TXN is more complex — and more patient. Here's what this LEAP is actually pricing in:

📦 The analog cycle recovery. TXN's core auto and industrial customers went through a deep inventory correction in 2024-2025. Tier-1 auto OEMs over-ordered chips in 2022-2023 and then burned down inventory for two years without reordering. That cycle is turning. S&P Global projects 16.5% YoY auto-semiconductor growth through 2026, with analog content per car up 23% vs. 2022 baselines. When restocking starts in earnest, it hits TXN's revenue very directly.

🏭 The capex winddown turning into cash. TXN spent ≈$5B/year building out 300mm fabs in Sherman, TX and Lehi, UT under its long-term capacity plan. That number drops to $2-$3B/year going forward per management guidance — every dollar saved on construction goes straight to free cash flow. With trailing 12-month operating cash flow already at $7.8B, the forward FCF/share target of $8-$12 becomes very achievable.

🏗️ The CHIPS Act money. TXN has already received $630M of a $1.6B CHIPS Act grant, with a further $6-$8B in Investment Tax Credits flowing in as the Sherman and Lehi fabs are placed in service. This is real, non-dilutive cash that subsidizes the very factories driving the cost moat.

⚡ The AI data-center wildcard. Nobody expected TXN to have an AI story, and then on May 26 they announced a complete 800V DC power architecture co-developed with NVIDIA for next-generation data centers. Data-center revenue grew ≈90% YoY in Q1. This is a new chapter.

So what does the 5.7%-OTM $320 strike represent? Patience. The whale isn't betting on TXN gapping 5.7% tomorrow — they're betting that across TWO earnings prints (July 21 and late October) plus ongoing CHIPS Act news, the stock climbs from $302 to above $320. Given that Bank of America set a $370 PT and Seaport Research put a Street-high $400 on it, $320 actually looks conservative — it's the floor of the bull-side analyst cluster, not the ceiling.

And the BLOCK CROSS framing matters here. This print is a negotiated block — one broker matched a buyer and a seller and crossed it off the open order book. There's a known counterparty on the other side who took the opposite position. That's deliberate institutional positioning, not a frantic sweep of offers. Read it as a desk methodically building or rolling LEAP exposure, not panic-buying into a headline.

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📈 Technical Setup / Chart Check-Up

YTD Performance Chart

Texas Instruments is up an eye-opening +82% YTD — one of the strongest performers in the semiconductor sector in 2026. The chart tells the story of two inflection points: the April 22 Q1 earnings explosion (+45% in April alone on a major beat) and the May 26 800V/NVIDIA announcement that pushed the stock to a new 52-week high of $324.19.

After the May 26 high, TXN has been quietly consolidating just below $305 — digesting the massive run and setting up for the Q2 earnings catalyst on July 21. The current price of ≈$302 sits right at the ATH consolidation zone, which is a technically constructive setup for a LEAP entry.

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Gamma-Based Support & Resistance Analysis

Current Price: $301.86

TXN has a thinner options market than mega-cap names, so the gamma levels are less absolute than they'd be on SPX or NVDA — but the structure is still meaningful:

🔵 Support Levels (Put Gamma Below Price):

• $300 — Immediate, strongest nearby support (total GEX 2.58, call GEX 1.88 vs put GEX 0.71 — call-heavy, meaning market makers are long gamma here and will buy dips). This is the key psychological and structural floor.
• $290 — Secondary support (total GEX 1.01, call-heavy at 0.64 call / 0.37 put). A pullback to $290 would still leave the LEAP well in the money by January expiry.
• $280 — Deep support with balanced gamma (total GEX 1.75, nearly equal call/put). A trade down here would represent ≈7% retracement from current levels — meaningful but within normal volatility range for a semiconductor name.
• $270 — Further support (total GEX 1.16, put-heavy). This would be a more significant pullback scenario.

🟠 Resistance Levels (Call Gamma Above Price):

• $305 — Immediate, put-heavy resistance (total GEX 1.73, put GEX 1.44 — dealers are short puts here, meaning they'll sell into strength near $305). This is the near-term ceiling to watch.
• $310 — Next resistance (total GEX 1.91, call-heavy at 1.30). Breaking and holding $310 would be technically significant.
• $320 — The strike of this LEAP trade (total GEX 0.98, call-heavy at 0.87). Note: call gamma here means dealers are hedging long calls by buying stock — SUPPORTIVE of price if the stock gets near $320.
• $330-$340 — Upper resistance cluster (total GEX 0.66 / 0.84 respectively). These sit squarely inside the Bank of America $370 target trajectory.

Net GEX Bias at $300: Call-heavy (1.88 call vs 0.71 put) — overall positioning tilts constructive/bullish with market makers holding long-delta exposure near the current price that forces them to BUY dips. The $300 level acts as a gravitational anchor.

What this means for the LEAP: The whale's $320 strike sits in a call-gamma zone where market makers would actually be buyers of TXN stock as the stock approaches — a self-reinforcing dynamic if the broader bull case plays out. And the $300 level's call-dominated GEX profile creates a mechanical support floor near the current price.

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Implied Move Analysis

The implied-move data for TXN is showing a relatively compact structure at current levels — consistent with a stock that has already absorbed most of its near-term surprise premium in the April-May run-up. The January 2027 LEAP expiration window encompassing:

• Q2 Earnings (July 21): The market will price in a ≈5-8% move for TXN earnings based on the Q1 beat pattern and current IV levels.
• Q3 Earnings (late October): A second earnings print with even more significance, as this is typically when analog stocks show the clearest Tier-1 OEM restocking signals.
• Full 7.5-month window: The combined implied move for the LEAP duration suggests a wide ±$40-$60 range — meaning $320 is very much in-play from a statistical standpoint.

The key implication: paying $43.79 for a $320C LEAP when the stock is at $302 means the whale needs TXN to be above $363.79 at expiration to profit. That's a ≈20% move from the current price — achievable within the BofA $370 / Seaport $400 target range, but not trivially easy. The premium reflects the market's expectation that TXN is volatile enough to reach those levels — or stay elevated enough for time value to work.

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🎪 Catalysts

✅ Recent Catalysts (Already Happened — Setting Up the Bullish Context)

Q1 2026 Earnings Beat (April 22, 2026) 🚀

TXN crushed it. Revenue of $4.83B (+19% YoY), EPS of $1.68 vs. consensus of $4.52B / $1.36 — a massive double beat. The Analog segment grew 22% YoY and data-center revenue exploded ≈90% YoY. Per the Q1 earnings call transcript, CEO Haviv Ilan called the recovery "broad-based" with industrial and data-center leading. Trailing-12-month free cash flow hit $4.4B. Stock jumped ≈45% in April alone.

800V AI Data Center Architecture with NVIDIA (May 26, 2026) ⚡

TXN unveiled a complete 800V DC power architecture for future-generation AI data centers co-developed with NVIDIA's 800 VDC reference design. This was the re-rating event that pushed TXN to its 52-week high of $324.19 — converting a pure analog-cycle story into a dual analog + AI power infrastructure narrative. Bank of America raised their PT to $370 the same day.

Analyst Upgrade Wave (May 2026) 📈

• Bank of America (May 26): PT raised to $370 from $320, Buy — top pick in AI power semiconductors
• Stifel: PT raised to $340 from $290, Buy
• Seaport Research (May 22): Upgraded to Buy from Neutral, Street-high $400 PT
• Overall ratings: 24 Buy / 14 Hold / 2 Sell per MarketBeat

CHIPS Act Funding Progress 🏗️

TXN has received $630M of its $1.6B CHIPS Act direct grant for the Sherman TX and Lehi UT 300mm fabs. The larger catalyst is the $6-$8B in Investment Tax Credits flowing through 2026-2027 as fabs are placed in service — non-dilutive cash directly improving FCF/share.

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🔥 Upcoming Catalysts (All Inside the Jan-2027 LEAP Window)

Q2 2026 Earnings — July 21, 2026 (CONFIRMED) 📊

Per TipRanks and MarketBeat, TXN reports Q2 on July 21, 2026 after the close. This is the first earnings test of the "broad-based recovery" narrative Ilan laid out in Q1.

• Consensus Revenue: ≈$5.23B (midpoint of management's $5.00-$5.40B guide)
• Consensus EPS: ≈$1.92 (guide $1.77-$2.05)
• What to watch: Auto/industrial order commentary (is Tier-1 OEM restocking starting?), Q3 guide direction, data-center revenue growth trajectory, gross-margin progression as 300mm utilization climbs

Q3 2026 Earnings — Late October 2026 (CONFIRMED) 🎯

This is potentially the BIGGER catalyst inside this LEAP. Typically the third week of October. When analog/industrial stocks confirm a restocking cycle, it's usually the Q3 call — when customers have committed to Q4 builds — that sends the stock meaningfully higher. The LEAP captures this print AND its forward guide into Q4/2027.

Capex Normalization → FCF Acceleration 💵

2026 capex drops to the $2-$3B range from ≈$5B/year per management guidance. The FCF/share target of $8-$12 by 2026 was reiterated in Q1. This math becomes increasingly visible in the quarterly cash flow statements and should support the multiple as the year progresses.

Auto/Industrial Tier-1 Restocking — H2 2026 Wildcard 🚗

S&P Global projects ≈16.5% YoY auto-semiconductor growth through 2026 with analog content per vehicle up 23% vs. 2022 baselines. Per a2globalelectronics, Tier-1 OEMs have not yet meaningfully started restocking — that order inflection, if it arrives in H2, would directly lift TXN's top line in Q3 and Q4. The Q2 and Q3 calls are where management will signal whether it's started.

Industrial Demand Sustainability 🏭

Honeywell Q1 2026 orders grew +7% organic in Building and Industrial Automation — a positive read-through for TXN's industrial channel. Sustaining that growth rate through Q2 would validate TXN's "broad-based" recovery thesis.

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🎲 Price Targets & Probabilities

Using the gamma structure, the analyst price-target cluster, and the two-earnings catalyst timeline, here are the three scenarios for the $320C LEAP by January 15, 2027:

📈 Bull Case (35% probability) — Target: $370-$400

How we get there:

• ✅ Q2 earnings (July 21) beats toward the high end of guidance ($5.40B+) with auto/industrial showing early restocking signals in Q3 order commentary
• 🚗 Tier-1 OEM restocking materializes in Q3 — management explicitly calls it out on the late-October call
• ⚡ Data-center revenue growth sustains at ≈80%+ YoY off the 800V/NVIDIA win; additional hyperscaler design wins announced
• 🏗️ CHIPS Act Sherman fab pilot production starts on time in 2026, triggering the next $630M+ of grant disbursements
• 📈 Gross margin re-rating as 300mm utilization rises (300mm is ≈40% lower cost per die than 200mm)
• 🎯 Stock pushes toward Seaport's $400 PT — LEAP is deep in the money by January
• 💰 LEAP P&L (approximate, at $380 expiry): intrinsic value ≈$60 vs $43.79 cost = +37% profit per contract; at $400 = ≈$80 intrinsic = +83% profit

🎯 Base Case (45% probability) — Target: $320-$360

Most likely scenario:

• 🤝 Q2 guidance meets street expectations — solid but not spectacular; auto commentary "early signs" not definitive
• 📊 Inventory at 209 days continues drifting lower through the year; gross margin gradually improves
• 💵 FCF per share trajectory visible and on-track; capex running ≈$2.5B vs ≈$5B prior — tangibly improving the cash flow story
• 🔄 Stock consolidates $320-$350 into Q3 earnings, then breaks higher as auto restocking gets mentioned on the call
• 🎯 LEAP expires ≈at-the-money to modestly in-the-money — the $43.79 premium is mostly preserved or modestly profitable; time value decay offsets some gains

📉 Bear Case (20% probability) — Target: $270-$300

What could go wrong:

• ❗ Q2 misses or Q3 guide disappoints — 35x forward P/E leaves absolutely zero margin for error. Even a revenue guide of $5.0-$5.3B (vs $5.23B consensus) could trigger -10 to -15% gap
• 🇨🇳 China export restrictions escalate — China is ≈20% of TXN revenue; a blanket tariff or local-sourcing mandate is a direct top-line hit
• 🚗 Tier-1 OEM restocking pushed to 2027 — European auto demand sluggish; TXN has meaningful exposure to Bosch, Continental, ZF Friedrichshafen
• 📉 Stock pulls back to $280-$290 gamma support zone; LEAP expires out-of-the-money
• 💸 LEAP P&L at $295 expiry: likely worth ≈$2-$5 (only extrinsic/vol premium remaining) = loss of ≈$38-$41/contract (87-95% of premium)
• 🐻 Note: TD Securities carries a Sell rating with a $160 PT — the extreme bear thesis argues the entire post-Q1 rally is a cycle-overshoot and the stock returns to pre-recovery multiples

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💡 Trading Ideas

🛡️ Conservative — "Sleep Well, Check Back in July"

Play: Watch from the sidelines until after Q2 earnings on July 21, then evaluate

Why this makes sense:

• 💸 At ≈$43-44 for this LEAP, paying ≈14.5% of the stock price is steep if the stock chops between $290 and $320 for the next two months
• 📊 Wait for Q2 earnings clarity — if TXN beats and Q3 guide is strong, the bull thesis gets confirmed AND the LEAP can still be entered at a reasonable price
• 🎯 A post-earnings dip to $285-$295 (gamma support) would offer a much better risk/reward entry on the same LEAP
• ✅ Watch for: auto/industrial commentary on the July 21 call that signals Tier-1 restocking has started — THAT'S the trigger for adding aggressively

Risk level: Minimal | Skill level: Beginner-friendly

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⚖️ Balanced — "Scale In Like the Whale, Smaller"

Play: Buy 2-5 contracts of the TXN Jan-2027 $320C now, add more if Q2 delivers

Why this works:

• 📅 7.5-month duration gives TWO earnings shots — you don't need to catch the July print perfectly
• 💡 The $320 strike is only 5.7% OTM; if TXN trades to $340 by September (Bank of America's conservative trajectory), the LEAP would be worth ≈$25+ in intrinsic alone — roughly recovering your investment even before the Q4 upside materializes
• 🎯 Scale in: buy half position now, add the other half on a confirmed Q2 beat July 21
• 📊 Position size: risk no more than 2-3% of your options portfolio on any single LEAP thesis

Cost estimate: $43.79 × 100 shares = $4,379 per contract (1 contract = control over 100 TXN shares) Breakeven at expiration: $363.79 (+20% from here) — achievable within the analyst target cluster

Risk level: Moderate | Skill level: Intermediate

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🚀 Aggressive — "YOLO the Full Duration" (Advanced Only)

Play: Buy the $320C LEAP and hold it through both earnings prints without hedging

Why this could work:

• 🎰 Both earnings prints carry significant upside potential if the analog cycle turns in H2
• 📈 Seaport's $400 PT implies ≈32% upside — that would put the LEAP worth ≈$80 vs the $43.79 cost (≈+83% return)
• ⚡ The 800V/NVIDIA data-center story is early — as more AI data centers come online in H2 2026, TXN revenue from power management could continue surprising to the upside

Why this could blow up:

• ⚠️ Two binary events (July 21, late October) inside the LEAP — either one disappointing sends the option toward $0
• 💸 At 35x forward P/E, TXN is priced for the cycle recovery AND the AI re-rating simultaneously — both need to deliver
• 🎢 Theta decay accelerates as you get past the October earnings; if the stock is still at $305 by November, the premium would be mostly gone

CRITICAL WARNING: A 7.5-month LEAP with $43.79 premium can lose 60-80% if neither catalyst delivers. This is appropriate only if you're willing to lose the full premium.

Risk level: HIGH | Skill level: Advanced only

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⚠️ Risk Factors

Don't get caught by these potential pitfalls:

• 📊 Valuation with no margin for error. Forward P/E ≈35x, trailing ≈49x — TXN is not cheap after +82% YTD. The stock already reflects both the analog recovery AND the AI data-center re-rating. A single guide miss on Q2 (even missing by $100-200M) could erase the stock's premium multiple quickly and send it back to $270-$280. There is literally zero cushion built in.

• 🚗 Auto demand timing risk. The Tier-1 OEM restocking thesis is the central pillar of the bull case — but per a2globalelectronics, it hasn't started yet. European auto demand remains sluggish (Volkswagen, Stellantis guidance has been cautious). TXN has meaningful exposure to European Tier-1 OEMs. If restocking slips to 2027, the Q3 catalyst that would drive the most meaningful stock re-rating simply doesn't show up inside the LEAP window.

• 🇨🇳 China revenue exposure. China is ≈20% of TXN revenue. Any escalation in tariffs, local-sourcing mandates, or export restrictions is a direct top-line headwind. This risk is non-trivial given the current geopolitical environment and can't be predicted from earnings data alone.

• 🏗️ CHIPS Act / fab execution risk. The $60B TXN fab expansion is still partially funded by tax credits that only flow when fabs are placed in service on schedule. Any cost overruns or construction delays at Sherman or Lehi compress the FCF/share trajectory — the same FCF math that underpins the current valuation.

• 🐻 The bear case is not small. TD Securities carries a Sell rating with a $160 PT — representing ≈48% downside from current levels on a cycle-rollover thesis. The ≈$240-wide spread between the Street's lowest ($160) and highest ($400) price targets reflects genuine uncertainty about whether TXN can sustain its current multiple through a potential economic slowdown. This isn't a consensus name.

• ⏰ Breakeven requires +20% move. This LEAP breaks even at $363.79 — that's above BofA's $370 PT but at the high end of what's baked into the most bullish scenarios. Even a "good year" for TXN might produce a stock at $340-$355 and a LEAP that expires only modestly in-the-money, after paying $43.79 in premium.

• 🎲 What the tape CANNOT tell us. We don't know the trader's full book — they may hold TXN stock or other options positions that this LEAP is hedging or expressing in conjunction with. We can't see their broker, their portfolio, or what they know that we don't. The cross mechanism means there's a COUNTERPARTY who sold this LEAP — and that seller was also an institution making a conscious decision at $43.79. Both sides are smart money. Neither has a guaranteed edge.

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🎯 The Bottom Line

Here's the deal: Someone with deep conviction in the Texas Instruments recovery story just committed $6.6M to a 7.5-month bullish LEAP — patient, methodically structured through a negotiated block cross, and sized to ride two earnings prints and a multi-quarter cycle inflection.

This is NOT a lottery ticket. A TXN LEAP at $320 with 7.5 months of runway is a bet on the analog/embedded semiconductor cycle recovering as Tier-1 auto OEMs restart restocking, CHIPS Act money flows into TXN's books, and the 800V/NVIDIA data-center relationship proves out in revenue. The $320 strike sits comfortably inside the analyst bull-case cluster ($340-$400) and well above the current ≈$290-$295 consensus average — meaning the whale is betting on the upgrade cycle continuing, not just the current price holding.

If you own TXN:

• ✅ This flow is constructive confirmation of the bull thesis — hold through Q2 earnings (July 21) if you believe the auto/industrial narrative
• ⚠️ At 35x forward P/E, consider trimming 20-25% if Q2 guidance is merely in-line (not a beat) — that's when the multiple most likely compresses slightly
• 📅 Key date: July 21 — if TXN beats Q2 and raises Q3 guidance, the path to $340+ is wide open. If they miss, the stock could give back a meaningful portion of the April-May gains very quickly.

If you're watching from the sidelines:

• ⏰ Wait for July 21 earnings clarity before committing LEAP premium
• 🎯 Post-earnings dip to $285-$295 (gamma support zone) is the ideal entry window for a patient LEAP play
• 📊 Look for these confirmation signals on the Q2 call: auto/industrial order growth, Q3 guidance above $5.4B, explicit mention of Tier-1 OEM restocking, data-center growth rate staying ≈70-90% YoY

If you're skeptical of the valuation:

• 🐻 The bear case is real — 35x forward P/E on an analog company (not a software/AI name) is historically stretched
• 📉 A miss on Q2 or Q3 guidance could easily take TXN back to $270-$280 gamma support — roughly 10% downside from here, and this LEAP would be nearly worthless in that scenario
• ⚖️ Defined-risk alternatives: a bull call spread (e.g., buy $310C/sell $340C) would cost significantly less while capturing most of the $310-$340 move if the cycle delivers

Mark your calendar:

• 📅 June 3 (tomorrow), ≈06:30 ET — Check TXN Jan-2027 $320C OI snapshot: expect ≈2,600 OI (from ≈1,100 + ≈1,500 new opens). This confirms the trade was a fresh open.
• 📅 July 21 — Q2 2026 earnings report (after market close) — the first major test of the "broad-based recovery" thesis
• 📅 Late October 2026 — Q3 earnings — the auto/industrial restocking inflection call; potentially the most important catalyst inside this LEAP
• 📅 January 15, 2027 — LEAP expiration

Final verdict: The $6.6M LEAP cross is a well-constructed patient position by an institution that believes TXN is mid-cycle, not late-cycle. The thesis is coherent, the strike is achievable within the analyst consensus, and the 7.5-month window is sized exactly to capture the inflection points. The risk is that the thesis is right about the direction but wrong about the timing — and 7.5 months isn't quite enough runway. That's always the risk with a LEAP: patience is rewarded only if the catalysts arrive on schedule.

Keep watching. July 21 will tell us a lot. 📊

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⚠️ Disclaimer: Options trading involves substantial risk of loss and is not suitable for all investors. This analysis is for educational and informational purposes only and does not constitute financial advice. Past unusual options activity does not guarantee future results. The LEAP analyzed here requires a ≈20% move in TXN to break even at expiration — that outcome is far from certain even in a bull-case scenario. Always do your own research and consider your personal risk tolerance and financial circumstances before trading options. Consult a licensed financial advisor if needed. The open/close classification above is marked ⏳ provisional until confirmed by tomorrow morning's OPRA open-interest snapshot.

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Last updated: 2026-06-02

About Texas Instruments: Texas Instruments Incorporated designs and manufactures semiconductors, including analog integrated circuits and embedded processors, for markets including automotive, industrial, personal electronics, communications equipment, and enterprise systems. Market cap ≈$275B. Sector: Electronic Components & Accessories.