Option traders moderately bearish in Taiwan Semi (TSM), with shares down $6.63 near $232.37. Options volume running well above average with 80k contracts traded and puts leading calls for a put/call ratio of 1.54, compared to a typical level near 0.78. Implied volatility (IV30) is higher by 2.0 points near 34.29,in the bottom quartile of the past year, suggesting an expected daily move of $5.02. Put-call skew flattened, suggesting a modestly bullish tone.
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