$TXN - 4/28/2026
### TXN -- Texas Instruments Incorporated
**Composite:** 17/25 | **Price:** $265.00 | **Mkt Cap:** $245.3B
- L1 Fundamentals: 5/5 -- FCF positive 5/5 yrs | ROIC 16.9% | Debt/EBITDA 2.5x | Interest coverage 999.0x | Rev CAGR 5.2%
- L2 Technicals: 4/5 -- Above 200SMA × 0.95 (138% of) | 7.9% off 52W high (sweet spot) | Above 50SMA
- L3 Options: 2/5 -- Best put: 250P 2026-05-29 (31DTE, delta 0.26) | Premium $5.59 | OI 14 | IV 40% | Ann 26.3%
- L4 Volatility: 1/5 -- HV Rank 73.8 -- stress signal, investigate
- L5 Events: 5/5 – Earnings ~89d (clear of window, last filed 2026-04-24)
TXN (17): HV Rank 73.8 stress signal needs a news check before acting. IV at 40% says something moved recently. OI 14 is also thin - the 250P fills could slip. If the vol is just sympathy noise, this is the most interesting setup; if there's real headline risk, pass.
TXN looks interesting. It is hitting my scanner as a power gap up from earnings a couple weeks ago. I added unusual whales data to explore.
Good catch - that HV Rank 73.8 stress signal is the earnings gap, not distress. TXN ripped from ~$186 to $277 after Q1 (revenue +19% YoY, EPS $1.68 vs $1.37 expected) and a guide-up on Q2 ($5.0-5.4B / $1.77-2.05 EPS, both well above Street). Stifel, TD Cowen, Mizuho, BofA all raised. Realized vol is high because the move already happened - which is the gift for a wheel seller. You're getting paid 26% annualized on premium that's largely a vol crush trade now.
The flow on your UW pull breaks bullish over the cycle but mixed today:
The big premium prints are mostly calls - $2.51M on the 245C 5/01, $1.51M on the 260C 5/01, $872K on 310C 1/15/27, $641K on 270C 6/18, plus the 290C 6/18 OI building +552 (+190%). That's accumulation behavior post-gap.
The wrinkle is today's tape - calls down 25-30% intraday, puts up 17-29%, and the 250P 5/15 OI built +1,359 (+111%). TXN was weaker today and someone leaned into that strike. Could be wheel sellers like you (bullish), could be hedging the gap (bearish). I wouldn't read it definitively either way, but it's not a one-way bull flow.
On strike selection: the screen's 250P 5/29 gives 5.7% cushion at 26% annualized, but OI 14 is thin - fills will slip and you'll struggle to roll. The 250P 5/15 has OI 2,579 if you'll accept 17DTE. Or step down to 240P 5/29 for more cushion if you want to respect the extended chart.
The real risk: $277 → $265 in days suggests the gap is starting to fade. Assignment at $250 puts you owning a name that ran 50% in a month and is giving some back. Fundamentals are real, but you'd be writing covered calls into a potential mean reversion. Acceptable if you wanted to own TXN here anyway; less so if you'd be reluctant.
Tier B placement looks right. Not financial advice.