What is TNON's options positioning and volatility profile?

Roarable tracks verified CBOE unusual options sweeps, put/call ratios, and OHLCV realized volatility bands for TNON.

Stock Ratings / Health Care / TNON / options

SNOA (34) INBS (27) NVNO (33) WOK (51) ⌘ Pro Terminal →

Tenon Medical Inc. (TNON) Options Positioning, Max Pain & Unusual Sweeps

$2.05 -10.48% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $2.01

Tenon Medical Inc. (TNON) carries a Roarable Rating of E (Strong Sell) with 30/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (30/100 · E) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE E • RED ALERT Cap $5.5M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on TNON Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is TNON stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

▼

As of 2026-11-03, Tenon Medical Inc. (NASDAQ: TNON) is rated E (Strong Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 30/100 at a spot price of $2.05 (-10.48% 1D, market cap $5.5M). Pillar breakdown: Fundamental Cash Engine 6/20, Institutional 13F & Options Flow 3/20, Executive Insider Alignment 8/20, FRED Macro Regime Fit 8/20, and SEC Balance-Sheet Forensics 5/20. Across 1016 tracked Health Care issuers, TNON ranks #815 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does TNON compare to SNOA and INBS in the Health Care sector?

▼

Within the Health Care sector (Medical/Dental Instruments), TNON carries a Roarable E (30/100 RQD), trailing P/E of N/A, gross margin of 59.8%, and ROIC of -35.0%. By comparison, SNOA (Sonoma Pharmaceuticals Inc.) holds a E grade (34/100 RQD, P/E N/A, ROIC -35.0%, cap $5.3M) and INBS (Intelligent Bio Solutions Inc.) posts a E grade (27/100 RQD, P/E N/A, ROIC -35.0%, cap $5.8M). Among the 5-stock peer group, TNON leads on earnings multiple (N/A) while TNON leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for TNON?

▼

Per TNON's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001560293), Tenon Medical Inc. generated $3.9M in revenue (+20.4% YoY), -$12.6M in net income, and -$11.0M in free cash flow against $10.8M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $2.01 (-2.08%)🧬 Disciplined Float (+0.72% YoY Shares)⚙️ Cash Engine: 6/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (30/100 · E) historically underperformed SPY in 71% of rolling 90-day windows (-9.6% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • E

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D-

Each axis scored 0–20

12M PRICE TARGET CONE-12.7% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for TNON)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (30/100 Composite)

🔍 WHY TNON SCORES 30/100 (E) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: SEC 10-K Forensic Risk+8/20 pts (27% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 5/9

▲ #2 Bullish Driver: Macro Regime Fit+8/20 pts (27% of score)

FRED Regime × Technicals: 2% of 52W Range • RSI-14 at 35.8 (NEUTRAL RANGE)

▼ #1 Drag / Risk Factor: Whale & Options Positioning4/20 pts (-16 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-16 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$2.89-13.1% Next Q

Q2 (-2Q)

Grade E$2.51-14.7% Next Q

Q3 (-1Q)

Grade E$2.14-4.2% Next Q

Current

Grade E$2.05-9.6% Hist 90D α

Trajectory: E (38) → E (30)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a TNON Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While TNON currently carries a cautious 30/100 (E) rating due to Whale & Options Positioning (4/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($3.50) and Max Pain ($2.15) forces dealer call-delta covering toward $47.77.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.72% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $TNON• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “TNON Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 30%NO 70%Trade / Inspect Odds →

CALL VS. PUT WHALE SHARE

— (No Active Options Snapshot)

Put/Call Ratio: — (No Active Options Snapshot)

MAX-PAIN EXPIRATION MAGNET

— (No Active Options Snapshot)

No active options chain max-pain snapshot on file

HISTORICAL 20D VOLATILITY SWING

±12.5%

Derived from 20D OHLCV bars (No Active Options Snapshot)

Active Strike Call vs. Put Concentration Ladder (TNON)

— (No Active Options Snapshot) — No unusual CBOE strike concentration anomalies recorded in the current database snapshot for TNON.

Sponsored / Partner SpotlightACTIVE TRADER & PROP EVALUATION DESK

Practice in Our Weekly $100,000 Paper Arena Before Risking Personal Capital

Keep your personal nest egg in cash while trading NQ, ES, Crude, and Gold momentum using institutional prop-desk buying power.

FTC Disclosure: Roarable may receive partner referral compensation at no cost to you. Partner relationships never influence RQD scores.

🏆 Enter Free $100K Paper Arena →

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring TNON)

✓Walkthrough of TNON's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

Want Custom AI PineScript / Python Indicators & Priority Rating-Change Alerts?

Join Founding VIP Waitlist (No Card Required) →$100K Arena

TNON // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -92.25%🛡️ HOLDING TREND SUPPORT

2026-11-03O $2.29H $2.29L $2.05C $2.05VOL 172.5K

RES: $4.71SUP: $1.48SMA50: $3.50SMA200: $16.77

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

TNON Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 TNON Butterfly Map → + Track TNON →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +20.4% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on TNON today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for TNON. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for TNON today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (TNON)

Health Care Rank #815 of 1016 ⚔️ SNOA vs TNON Full Matrix →

1. Head-to-Head Health Care Peer Comparison (TNON vs. SNOA, INBS, NVNO, WOK)

Industry: Medical/Dental Instruments (120 Tracked Issuers)

Across 1016 tracked Health Care securities in the Roarable RQD universe, Tenon Medical Inc. (TNON) ranks #815 by composite RQD confidence (30/100, grade E) and #933 by equity capitalization ($5.5M). Within this direct 5-issuer industry benchmark cohort, TNON leads on earnings valuation at N/A trailing P/E, while TNON leads on capital efficiency and profitability with -35.0% ROIC and 59.8% gross margin. WOK currently holds the highest overall quantitative score in the immediate peer group at 51/100 (D) compared with TNON at 30/100 (E).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
TNON ACTIVE Tenon Medical Inc.	E	30/100	—	59.8%	-35.0%	-10.48%	$5.5M	Benchmark Subject
SNOA Sonoma Pharmaceuticals Inc.	E	34/100	—	38.0%	-35.0%	-8.33%	$5.3M	/snoa-vs-tnon →
INBS Intelligent Bio Solutions Inc.	E	27/100	—	40.8%	-35.0%	-3.82%	$5.8M	/inbs-vs-tnon →
NVNO enVVeno Medical Corporation	E	33/100	—	—	-35.0%	-4.13%	$4.7M	/nvno-vs-tnon →
WOK WORK Medical Technology Group LTD (Class A)	D	51/100	—	—	—	-9.09%	$4.5M	/wok-vs-tnon →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001560293

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Tenon Medical Inc. (TNON) reported GAAP revenue of $3.9M (+20.4% vs. FY2024 revenue of $3.3M , and +34.7% cumulative change since FY2023) , GAAP net income of -$12.6M, operating cash flow of -$10.7M, and free cash flow of -$11.0M (-9.5% YoY). On the balance sheet, TNON closed FY2025 with $10.8M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 5/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$3.9M	-$12.6M	-$10.7M	-$11.0M	$10.8M	—
FY2024 (FY)	2024-12-31	$3.3M	-$13.7M	-$9.9M	-$10.1M	$9.8M	—
FY2023 (FY)	2023-12-31	$2.9M	-$15.6M	-$12.2M	-$12.2M	—	—

3. TNON Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is TNON stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does TNON compare to SNOA and INBS in the Health Care sector?

What are the biggest fundamental strengths and SEC risk factors for TNON?

Where is TNON trading relative to its 50-day, 200-day, and 52-week technical levels?

TNON last traded at $2.05 (-10.48% on volume of 172,537 shares), positioning the stock -41.43% below its 50-day simple moving average ($3.50) and -87.78% below its 200-day simple moving average ($16.77). Across its 52-week range of $2.05 to $45.50, TNON sits at the 0.0% percentile with a 14-day RSI of 35.8 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($1.79 to $2.31).

Direct Sub-Reports: TNON RQD Cockpit TNON 12M Forecast TNON Earnings & Move TNON Dividends & DRIP TNON Insiders & 13F TNON Whale Options TNON Profit Sankey TNON News & Why

ROARABLE RATING BRIEF • RQD 30/100 (E) ✓ STAGE-C NUMBER FIREWALL VERIFIED

TNON — Tenon Medical Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:52:46Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, TNON scores 30 out of 100 and receives an E grade, labeled "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are: Fundamental Cash Engine at 6/20 (ROIC -35%; FCF yield 0%), Whale 13F Flow at 3/20 (institutional accumulation and options positioning), Insider Conviction at 5/20 (SEC Form 4 and Congressional PTR cluster flow), Macro Regime Fit at 8/20 (Beta 1.0; sector sensitivity), and Forensic Balance Sheet at 8/20 (Altman Z 2.5; Piotroski F 5/9; Debt/Equity 0.5). Every pillar sits at or below 40% of its maximum, with the weakest readings in capital generation, institutional flow, and insider conviction. For a prospective investor, the practical implication is that the cash engine is not yet self-funding (ROIC -35%, FCF yield 0%), institutional and insider signals are weak rather than supportive, and the balance sheet is not flagged as distressed but is not a source of strength either. The rating's verdict label is a model output and should be weighed alongside the underlying facts rather than in isolation.

Business

Tenon Medical Inc. (TNON) is a NASDAQ-listed issuer in the Health Care sector, operating in the Medical/Dental Instruments industry. Per the company profile, it is classified within these sector and industry categories. Per the market data, the company reports a gross margin of 59.8%.

Recent Catalysts & News Wire Analysis

Per the news wire, recent items include a Q3 2026 earnings date announcement (Nov. 12), an expansion of an ATM offering described as boosting capital flexibility, an investor-granted offering waiver for a warrant with a $5.02 exercise price, and eight new U.S. patents issued through Q3 2026. A Kalkine report headlined a month-long price decline "despite repeated capital raises." Most items are flagged YELLOW, with the penny-stock commentary flagged GREEN. Risk watch items include the ATM and warrant activity, which indicate ongoing reliance on equity financing. Per the Butterfly Supply-Chain Graph, no supply-chain links or proprietary signals are recorded.

Butterfly Effect: 2nd-Order Supply-Chain & Sector Ripples

Per the Butterfly Supply-Chain Graph, the supply chain is recorded as NONE, with no butterfly links and no proprietary signals.

Open Questions

What are the company's products, customers, and revenue drivers, given that the source data gives no product description?
What is the timeline and cash runway implied by the FY 2025 cash balance of $3.8M against FCF of $-11.0M?
What terms govern the ATM offering and the warrant at a $5.02 exercise price relative to the current $2.29 price?
Why are EPS, debt, and several earnings multiples recorded as N/A or not available, and how would they change the valuation picture?
What drove the 52-week range from $2.05 to $45.5, and what has happened to the share count and dilution over that period?

TNON Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Tenon Medical Inc. (TNON) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to TNON Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance • 19h ago

Tenon Medical, Inc. Sets Date for Third Quarter 2026 Earnings

Yahoo Finance report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE The Globe and Mail • 22h ago

Tenon Medical Expands ATM Offering to Boost Capital Flexibility

The Globe and Mail report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

Tenon Medical, Inc. (TNON) Sets Q3 2026 Earnings Release for Nov. 12

TradingView report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Tenon Medical(R) Adds Eight New Patents Issued by the United States Patent and Trademark Office Through Q3 2026

Yahoo Finance report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

An investor grants Tenon Medical (TNON) an offering waiver for a warrant with a $5.02 exercise price.

Stock Titan report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST kalkine.ca • 1d ago

Why Is Tenon Medical (NASDAQ:TNON) Penny Stock Down in a Month Despite Repeated Capital Raises?

kalkine.ca report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

Tenon Medical Secures Waivers for ATM Offering Increase, Issues $5.02 Warrant

TradingView report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

A single tool drills and prepares the joint in initial cases. Market release is targeted for early 2027.

Stock Titan report covering Tenon Medical Inc. (TNON) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

TNON Bull vs. Bear Conversation Board — What's Your Call at $2.05?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON TNON 🐻 67% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $2.02 (-11.8%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is TNON (E • RQD 30/100) a Buy at $2.29?

Welcome to the TNON (Tenon Medical Inc.) Roar Pit. Current RQD Composite is 30/100 (Roarable Strong Sell — Forensic Risk / Avoid) in Medical/Dental Instruments. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

SK SkepticalCFA Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $1.81 (-21.0%)

Spot @ $2.29

Pump the brakes on TNON — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on TNON, but look at what you are paying: current EV/EBITDA multiples with 59.8% gross margins. Unless Tenon Medical Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

AL AlphaFlow_Cap Verified K Arena Trader 🐂 BULLISH 🎯 Target: $2.73 (+19.2%)

Spot @ $2.29

TNON cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on TNON, the market is fixating on short-term headline noise in Medical/Dental Instruments and ignoring the balance sheet and cash flow trajectory. At $2.29 (52-wk range $2.05 - $45.50), any beat on forward guidance forces shorts and underweight funds to chase.