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TXNTexas Instruments Incorporated

Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $236.2B|NASDAQ
● 2026-08-31$258.64
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +29.4%YTD +45.7%7D -0.1%
28,351
30D
±9.8%
9%

TXN Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

6.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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TXN Gamma Walls

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Value

Is IV priced right?

7.5
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 72.3% — elevated vs history

<1.05x

IV/HV 1.01x — IV ≤ HV

Sector Relative≤50%

Sector percentile 27% — below sector median

<1.1x

Front/Back 0.80x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 35.8% — normal range

<80%

Effective IV 59.6% (ATM 35.8% + spread 11.9% + bias) — good value

<3.0%

Total drag 24.24% (spread 11.92% + slippage 12.32%) — high friction

≥5.0

Vega efficiency 28.72 (vega 34.232 / spread 11.92%) — efficient

Sentiment

Bullish or bearish?

5.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBearish - Moderate signal (Conviction: -14%, Raw: -17%)
|net sentiment| ≥25%

Conviction-weighted: -14% (bearish) — Raw: -17%

≥15%

|OI skew| 5.6% — balanced

Same sign, |vol skew| ≥10%

Vol skew +31.5%, OI skew +5.6% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -27%, ATM: +1%, OTM: -18% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 40% — bullish vs sector

Activity

Unusual activity?

5.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 1.6x avg — elevated

≥15%

Vol/OI 11.7% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +9.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 72% — active vs sector

≥30%

Large trade volume 19% — mixed

≥60%

Aggressive execution 17% — patient

≥30

Conviction -14 (bearish) — mixed

Liquidity

Can I trade efficiently?

4.6
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed
≤5.0%

Spread 11.9% — wide

≥10,000

OI 243,078 — deep

≥500

Volume 28,351/day — active

≤$0.50

$0.60 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 28% — tighter than sector

≥100 contracts

Depth 162.20000000000002 contracts (bid:20.9 ask:141.3) — adequate

<1.0%

Avg slippage 12.32% — poor

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -20.1% — contango

<30 or >70

IV percentile 72% — seller opportunity

≥10pts kink

IV kink -5.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 212.23 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -14% @ 57% consistency — unclear

≥40 composite score

Score 49 (ITM 20% + inst 19%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.4
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.8
bullishIV too cheap, mixed flow
Covered Call4.2
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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