Bearish order flow is infecting Texas Instruments (TXN, news, chart). The stock is down 38 cents to $24.13. In the options market, volume is running double the usual. 20,000 TXN puts and 11,000 calls have traded. The September 25 puts are the most actives, with 12,400 traded and 94 percent of today’s volume trading offerside. The Septembert 25 calls are the second most actives, with 78 percent trading on the bid. It appears then that investors are buying puts and selling calls. The defensive trading comes ahead of presentations at the Kaufman Brothers Investors Conference Thursday and the Citi Investor Conference tomorrrow.