Texas Instruments (TXN) has seen significant options activity, including new October 4th contracts, with notable put and call options suggesting a price range of $160 to $240. Deep-pocketed investors are showing a bearish sentiment towards TXN. Citi upgraded TXN to 'buy' from 'neutral', raising its price target to $235, citing reduced capex and potential margin recovery. Elliott Investment Management commended TXN's capital-allocation update, highlighting a path to $12 per share of free cash flow by 2026. Additionally, TXN's short interest has risen by 3.24%, indicating increased bearish sentiment, although it remains below the peer average.