Moderately bullish activity in Taiwan Semi with shares up 0.45%

Moderately bullish activity in Taiwan Semi (TSM), with shares up $1.54, or 0.45%, near $343.31. Options volume roughly in line with average with 183k contracts traded and calls leading puts for a put/call ratio of 0.96, compared to a typical level near 1.38. Implied volatility (IV30) is higher by 2.3 points near 47.64, in the highest 10% of observations over the past year, suggesting an expected daily move of $10.30. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Taiwan Semi (TSM) will report earnings before the open on 2026-04-16.Option markets are pricing in a 50% probability of a move greater than 5.51% or $18.91.