Heavy Put Buying

Texas Instruments (TXN) reports after the bell. I wouldn't touch it with a ten foot poll (long or short). The volume on the February 30's (7,500 contracts with an open interest of 4,307) and the February 32.50 puts 8,647 with an open interest of 18,048 as of 1:15 PM ET. I bet TXN will report in-line and guide in-line. Clearly some investors are expecting a miss.