Can you provide an example sentence? It is most likely to be the second option but this can shift with context.

When talking about a person, a native speaker might say the following to mean the same thing: His intention is obvious. (We know what he’s trying to do. It’s not subtle or hidden.) He’s being obvious. He’s obvious. (It sounds a little incomplete, but it’s typical of the way native speakers shorten things. If I heard a non-native speaker say that, I might doubt the meaning)