Texas Instruments (TXN) options volume is running 10X the expected for the first hour of trading. 22K calls and 20K puts traded so far. Shares are up $1.07 to $20.84 and players in the options market are scrambling Tuesday morning after the chipmaker surprised the Street with upbeat guidance. TI says it expects 14 to 22 cents per share in the 2nd quarter, compared to 10 cents analyst estimates (Link to story.) Premium sellers are driving a lot of the flow and implied volatility is falling back to multi-month lows below 33, down from about 38 the day before.