Moderately bullish activity in Taiwan Semi (TSM), with shares up $5.73, or 2.71%, near $216.83. Options volume roughly in line with average with 36k contracts traded and calls leading puts for a put/call ratio of 0.59, compared to a typical level near 0.81. Implied volatility (IV30) is higher by 0.5 points near 35.0,in the bottom quartile of the past year, suggesting an expected daily move of $4.78. Put-call skew flattened, suggesting a modestly bullish tone.
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