Den Deming's Texas Instruments Incorporated Trade

Dan Deming, a managing director of KKM Financial, spoke with Julie Hyman on

about

. He likes the stock because it has outperformed its peers in a declining market and he believes that it is going to continue to outperform, because it traded higher after Goldman Sachs downgraded it a week ago. He also thinks that the company has a very solid balance sheet and he is encouraged by its buyback program. Deming wants to buy the July 52.50/57.50 call spread for $1.70 to make a bullish bet. The trade breaks even at $54.20 or almost 7 percent higher and it can maximally make $3.30. He thinks that

could break out above its 200-day moving average, but it is going to take a couple of months before that happens, explained Deming.