Mixed options sentiment in Taiwan Semi with shares up 0.77%

Mixed options sentiment in Taiwan Semi (TSM), with shares up $1.71, or 0.77%, near $224.45. Options volume roughly in line with average with 71k contracts traded and calls leading puts for a put/call ratio of 0.56, compared to a typical level near 0.86. Implied volatility (IV30) dropped 0.52 near 35.37,in the bottom quartile of the past year, suggesting an expected daily move of $5.00. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Taiwan Semi (TSM) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.