TNON Tenon Medical, Inc. Common Stock
XNASStock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

- Industry (SIC)
- SURGICAL & MEDICAL INSTRUMENTS & APPARATUS (3841) · industry map
- Exchange
- XNAS
- Market Cap
- $0.0B
- Employees
- 26
- List Date
- 2022-04-27
- CIK
- 0001560293
- Next Earnings
- 2026-11-12
- Headquarters
- Los Gatos, CA
- Homepage
- https://www.tenonmed.com
Tenon Medical Inc is a medical device company that has minimally invasive approach to the sacroiliac joint (the SI Joint) using a single, robust, titanium implant for the treatment of the common types of SI Joint disorders that cause lower back pain. The Company is focused on three commercial opportunities; Primary SI Joint procedures, Revision procedures of failed SI Joint implants, and SI Joint fusion adjunct to a spine fusion construct. The company derives the majority of its revenue from sales of The Catamaran System to a limited number of clinicians.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
| Month | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|
| Jan | -- | 42.14% | -17.42% | -24.65% | -9.01% | -2.23% |
| Feb | -- | -0.85% | -8.94% | -15.72% | 3.44% | -5.52% |
| Mar | -- | -23.71% | -24.00% | 67.46% | -9.70% | 2.51% |
| Apr | -3.96% | 4.52% | -18.82% | -31.36% | 8.32% | -8.26% |
| May | -87.19% | -38.30% | -10.02% | -8.47% | -11.77% | -31.15% |
| Jun | -31.31% | -74.98% | -13.48% | -9.50% | -51.40% | -36.13% |
| Jul | -7.05% | -1.55% | -18.83% | -1.92% | -39.26% | -13.72% |
| Aug | -0.50% | -6.56% | -14.40% | -15.07% | -31.88% | -13.68% |
| Sep | -35.15% | -44.60% | 10.23% | -3.28% | -9.51% | -16.46% |
| Oct | 40.16% | -7.13% | -9.24% | -1.64% | -46.66%* | -4.90% |
| Nov | -0.52% | 129.14% | -38.93% | -5.04% | -- | 21.16% |
| Dec | -15.51% | -26.17% | -17.54% | -14.28% | -- | -18.38% |
| Total | -94.03% | -86.11% | -87.36% | -61.00% | -92.12% | -84.12% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: TNON
Executive Summary
Overall assessment: BEARISH (Confidence level: 6/10)
Key drivers:
- Bearish momentum signals from MACD
- Neutral RSI reading and Bollinger Bands position
- Recent negative news headlines
Primary risks:
- Earnings miss expectation
- Regulatory issues or management changes
Investment thesis: TNON's recent decline may be a buying opportunity, but the stock's bearish momentum and moderate volatility suggest caution.
Recent news sentiment impact: The positive earnings headline from Q4 2025 has been overshadowed by mixed market commentary and no significant catalysts in recent days.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): BEARISH, Medium-term (1-3 months): NEUTRAL, Long-term (3-12 months): BULLISH
Support/Resistance Levels:
- Key price levels: $0.17 (lower Bollinger Band), $0.20 (SMA 20 and EMA 12)
- Resistance: $0.24 (upper Bollinger Band)
Momentum Signals:
- RSI interpretation: Neutral (31.14%)
- MACD signal: Bearish (MACD -0.06, Signal 0.01)
- Bollinger Bands position: Neutral (squeeze)
- Volume analysis: Slightly bearish (volume rate of change -42.24%)
News & Sentiment Analysis
Recent Headlines Summary: Mixed market commentary and no significant catalysts in recent days.
Sentiment Assessment: NEUTRAL
Catalyst Identification: No upcoming events or earnings announcements that would significantly impact the stock price.
Market Narrative: The mixed news headlines suggest a lack of directional momentum, which may be contributing to the current consolidation.
Risk & Volatility Assessment
Beta Interpretation: Moderate risk (beta 0.87)
Volatility Regime: Moderate volatility (1.19)
Options Market Signals: No options data available for analysis
Downside Protection: Support at $0.17 (lower Bollinger Band), potential stop-loss levels around $0.20
Market Context & Positioning
Sector Performance: TNON's sector, Healthcare Technology, has been performing relatively strongly.
Institutional Activity: Moderate institutional interest, but no significant buying or selling pressure.
Correlation Analysis: TNON follows the broader market (correlation 0.09), suggesting a moderate risk profile.
Relative Valuation: TNON is trading within its historical range, with no clear value or momentum bias.
Key Levels & Action Items
- Critical Price Levels: $0.17 (lower Bollinger Band) and $0.20 (SMA 20 and EMA 12)
- Breakout/Breakdown Levels: $0.24 (upper Bollinger Band) for a potential breakout
- Time-Sensitive Catalysts: No immediate earnings announcements or product launches
Risk Management:
- Consider stop-loss levels around $0.20 to limit potential losses.
- Monitor the stock's technical signals and adjust position size accordingly.
Please note that this analysis is based on the provided data, and actual market conditions may differ.
TNON Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
TNON Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
TNON Insider Trading (Form 4)
Latest: 2026-09-11| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-09-11 | HRT FINANCIAL LP | 10%+ Owner | Mixed | −17,785 | $3.94 | -$155.7K | EDGAR |
| 2026-09-10 | Kevin Williamson | Chief Financial Officer | Mixed | +19 | $3.45 | -$38 | EDGAR |
| 2026-09-08 | HRT FINANCIAL LP | 10%+ Owner | Mixed | +152 | $3.85 | $1.0K | EDGAR |
| 2026-09-03 | HRT FINANCIAL LP | 10%+ Owner | Mixed | +1,340 | $4.56 | $6.1K | EDGAR |
| 2026-09-01 | HRT FINANCIAL LP | 10%+ Owner | Mixed | +10,058 | $5.99 | $45.1K | EDGAR |
| 2026-08-31 | HRT FINANCIAL LP | 10%+ Owner | Sell (S) | −419 | $4.96 | -$2.1K | EDGAR |
| 2026-08-04 | Richard Ferrari | Director | Exer (M) | +64,479 | — | EDGAR | |
| 2026-08-04 | Robert K Weigle | Director | Exer (M) | +10,732 | — | EDGAR | |
| 2026-08-04 | Ivan Howard | Director | Exer (M) | +10,732 | — | EDGAR | |
| 2026-08-04 | Kristine M Jacques | Director | Exer (M) | +10,147 | — | EDGAR | |
| 2026-08-04 | Kevin Williamson | Chief Financial Officer | Mixed | +46,009 | $0.20 | -$2.6K | EDGAR |
| 2026-08-04 | Stephen Hochschuler | Director | Exer (M) | +10,732 | — | EDGAR | |
| 2026-08-04 | Steven M Foster | CEO and President | Mixed | +99,148 | $0.20 | -$8.3K | EDGAR |
| 2026-08-04 | Richard Ginn | Chief Technology Officer | Mixed | +81,768 | $0.20 | -$8.9K | EDGAR |
| 2023-05-24 | Robert K Weigle | Director | Exer (M) | +6,207 | $1.62 | $10.1K | EDGAR |
TNON Insider Holdings
9 insiders · @ $2.15| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | HRT FINANCIAL LP | 10%+ Owner | 15,839 | $34.1K | -$105.4K | 5 | 2026-09-11 |
| 2 | Steven M Foster | CEO and President | 8,707 | $18.8K | -$35.0K | 3 | 2026-08-04 |
| 3 | Richard Ginn | Chief Technology Officer | 4,782 | $10.3K | -$81.9K | 3 | 2026-08-04 |
| 4 | Richard Ferrari | Director | 3,864 | $8.3K | $0 | 3 | 2026-08-04 |
| 5 | Kevin Williamson | Chief Financial Officer | 2,580 | $5.6K | $0 | 2 | 2026-09-10 |
| 6 | Kristine M Jacques | Director | 596 | $1.3K | $0 | 1 | 2026-08-04 |
| 7 | Ivan Howard | Director | 548 | $1.2K | $0 | 3 | 2026-08-04 |
| 8 | Stephen Hochschuler | Director | 533 | $1.1K | $0 | 3 | 2026-08-04 |
| 9 | Robert K Weigle | Director | 522 | $1.1K | $0 | 3 | 2026-08-04 |
TNON Board & Officers
As of SEC filings through Oct 9, 2026Directors 7
- Ivan Howard · listed since May 2023
- Richard Ferrari · listed since May 2023
- Richard Ginn · listed since May 2023
- Robert K Weigle · listed since May 2023
- Stephen Hochschuler · listed since May 2023
- Steven M Foster · listed since May 2023
- Kristine M Jacques · since Mar 25, 2024
Officers 6
- Steven M Foster · CEO and President · listed since May 2023
- Kevin Williamson · Chief Financial Officer · since Sep 3, 2024
- Richard Ginn · Chief Technology Officer · listed since May 2023
- Nathaniel A. Grawey · Chief Commercial Officer · since Aug 1, 2025
- Wyatt D. Geist · Chief Innovation Officer · since Aug 1, 2025
- Thomas Henry Batton Jr · Chief Revenue Officer · since Oct 1, 2026
Changes in the last 10 years (41)
| Oct 1, 2026 | Thomas Henry Batton Jr became Chief Revenue Officer |
| Sep 11, 2026 | Hrt Financial LP reported in an SEC filing no longer being a 10% owner |
| Aug 26, 2026 | Hrt Financial LP became a 10% owner |
| Mar 5, 2026 | Kevin Williamson no longer listed as a director in SEC filings |
| Oct 15, 2025 | Kevin Williamson first listed as a director in an SEC filing |
| Aug 1, 2025 | Wyatt D. Geist became Chief Innovation Officer |
| Aug 1, 2025 | Nathaniel A. Grawey became Chief Commercial Officer |
| Sep 3, 2024 | Kevin Williamson became Chief Financial Officer |
| May 20, 2024 | The company announced the departure of Steven M Van Dick as Chief Financial Officer in an SEC filing |
| Mar 25, 2024 | Kristine M Jacques became a director |
| Nov 30, 2023 | The company announced the departure of Frank M Fischer from the board in an SEC filing |
| May 24, 2023 | Steven M Van Dick listed as Chief Financial Officer (previously EVP, Finance and Admin and CFO) in SEC filings |
| May 24, 2023 | Steven M Foster first listed as a director in an SEC filing |
| May 24, 2023 | Steven M Foster first listed as CEO and President in an SEC filing |
| May 24, 2023 | Stephen Hochschuler first listed as a director in an SEC filing |
| May 24, 2023 | Robert K Weigle first listed as a director in an SEC filing |
| May 24, 2023 | Richard Ginn first listed as a director in an SEC filing |
| May 24, 2023 | Richard Ginn first listed as Chief Technology Officer in an SEC filing |
| May 24, 2023 | Richard Ferrari first listed as a director in an SEC filing |
| May 24, 2023 | Ivan Howard first listed as a director in an SEC filing |
| May 24, 2023 | Frank M Fischer first listed as a director in an SEC filing |
| May 16, 2022 | Steven M Foster reported in an SEC filing no longer being a director |
| May 16, 2022 | Steven M Foster reported in an SEC filing no longer being CEO and President |
| May 16, 2022 | Stephen Hochschuler reported in an SEC filing no longer being a director |
| May 16, 2022 | Robert K Weigle reported in an SEC filing no longer being a director |
| May 16, 2022 | Richard Ginn reported in an SEC filing no longer being a director |
| May 16, 2022 | Richard Ginn reported in an SEC filing no longer being Chief Technology Officer |
| May 16, 2022 | Richard Ferrari reported in an SEC filing no longer being a director |
| May 16, 2022 | Ivan Howard reported in an SEC filing no longer being a director |
| May 16, 2022 | Frank M Fischer reported in an SEC filing no longer being a director |
| Apr 26, 2022 | Zuhlke Ventures AG became a 10% owner |
| Apr 26, 2022 | Steven M Van Dick became EVP, Finance and Admin and CFO |
| Apr 26, 2022 | Steven M Foster became a director |
| Apr 26, 2022 | Steven M Foster became CEO and President |
| Apr 26, 2022 | Stephen Hochschuler became a director |
| Apr 26, 2022 | Robert K Weigle became a director |
| Apr 26, 2022 | Richard Ginn became a director |
| Apr 26, 2022 | Richard Ginn became Chief Technology Officer |
| Apr 26, 2022 | Richard Ferrari became a director |
| Apr 26, 2022 | Ivan Howard became a director |
| Apr 26, 2022 | Frank M Fischer became a director |
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Not reported recently (1)
- Zuhlke Ventures AG · Last reported as a 10% owner in an SEC filing dated Apr 26, 2022
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VXF Vanguard Extended Market ETF | Vanguard | 0.00% | $8,380 | — | 2026-09-30 |
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.