TXNTexas Instruments Incorporated
Options Analysis Report•SEMICONDUCTORS & RELATED DEVICES
Market Cap $209.2B|NASDAQ
● 2026-04-17$229.82
BULLISH
Analysis: 2026-04-16 EOD data
1Y +57.8%YTD +29.5%7D +7.0%
Options Vol
34,979
30D
Implied Move
±14.0%
IV Rank
39%
TXN Options Overview
IV is elevated with bullish flow and unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
4.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 73.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.38x — IV premium over HV
Sector Relative≤50%
Sector percentile 41% — below sector median
Term Structure
<1.1xFront/Back 1.73x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 43.9% — normal range
Spread-Adjusted Value
<80%Effective IV 61.1% (ATM 43.9% + spread 8.6% + bias) — good value
Execution Efficiency
<3.0%Total drag 13.57% (spread 8.60% + slippage 4.97%) — high friction
Vega Efficiency
≥5.0Vega efficiency 50.70 (vega 43.602 / spread 8.60%) — efficient
Sentiment
Bullish or bearish?
7.2
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +20%, Raw: +17%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +20% (bullish) — Raw: +17%
OI Skew Magnitude
≥15%|OI skew| 8.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +42.7%, OI skew +8.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 24%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -2%, ATM: +6%, OTM: +22% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 29% — very bullish vs sector
Activity
Unusual activity?
6.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks5/9 checks passed
Volume Surge
≥1.5xVolume 2.8x avg — hot
Turnover Rate
≥15%Vol/OI 17.4% — high 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 +8.7% (5d) — building
Sector Relative≥60%
Sector activity percentile 87% — very active vs sector
Trade Quality
≥30%Large trade volume 34% — institutional presence
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction +20 (bullish) — mixed
Liquidity
Can I trade efficiently?
5.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.6% — wide
Adequate OI
≥10,000OI 201,303 — deep
Active Volume
≥500Volume 34,979/day — active
Reasonable Cost
≤$0.50$0.43 to cross — cheap
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 43% — neutral vs sector
Order Book Depth
≥100 contractsDepth 130.3 contracts (bid:68.1 ask:62.2) — adequate
Execution Quality
<1.0%Avg slippage 4.97% — poor
Timing
Is now a good time?
7.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +73.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 74% — seller opportunity
Event Detection
≥10pts kinkIV kink 21.9pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 467.33 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 5d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +20% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 64 (ITM 20% + inst 34%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.9
bullishIV fair, bullish flow
Long Puts4.4
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.1
bullishIV fair, bullish flow
Covered Call4.8
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.