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Taiwan Semi put volume heavy and directionally bearish

Bearish flow noted in Taiwan Semi with 69,628 puts trading, or 1.9x expected. Most active are Sep-25 240 puts and Sep-25 245 calls, with total volume in those strikes near 26,500 contracts. The Put/Call Ratio is 2.12, while ATM IV is up over 1 point on the day. Earnings are expected on October 16th.

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