TSMTaiwan Semiconductor Manufacturing Company Ltd.
Options Analysis Report
Market Cap $2.13T|NYSE
● 2026-08-25$410.12
NEUTRAL
Analysis: 2026-08-24 EOD data
1Y +74.1%YTD +28.3%7D -0.8%
Options Vol
106,039
30D
Implied Move
±9.8%
IV Rank
5%
TSM Options Overview
unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
Loading score history...
TSM Gamma Walls
Loading gamma walls...
Value
Is IV priced right?
8.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 55.7% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.93x — IV ≤ HV
Sector Relative≤50%
Sector percentile 11% — below sector median
Term Structure
<1.1xFront/Back 0.97x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 36.6% — normal range
Spread-Adjusted Value
<80%Effective IV 43.0% (ATM 36.6% + spread 3.2% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 5.84% (spread 3.19% + slippage 2.65%) — high friction
Vega Efficiency
≥5.0Vega efficiency 47.73 (vega 15.225 / spread 3.19%) — efficient
Sentiment
Bullish or bearish?
5.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: +4%, Raw: +2%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +4% (neutral) — Raw: +2%
OI Skew Magnitude
≥15%|OI skew| 6.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +17.0%, OI skew -6.1% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +22%, ATM: -0%, OTM: +2% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 66% — bearish vs sector
Activity
Unusual activity?
3.7
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/8 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 5.9% — normal turnover
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change -14.8% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 72% — active vs sector
Trade Quality
≥30%Large trade volume 32% — institutional presence
Execution Urgency
≥60%Aggressive execution 26% — patient
Flow Conviction
≥30Conviction +4 (bullish) — mixed
Liquidity
Can I trade efficiently?
6.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 3.2% — acceptable
Adequate OI
≥10,000OI 1,807,808 — deep
Active Volume
≥500Volume 106,039/day — active
Reasonable Cost
≤$0.50$0.16 to cross — cheap
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 48% — neutral vs sector
Order Book Depth
≥100 contractsDepth 110.5 contracts (bid:50.0 ask:60.5) — adequate
Execution Quality
<1.0%Avg slippage 2.65% — poor
Timing
Is now a good time?
6.6
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -2.8% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 56% — neutral
Event Detection
≥10pts kinkIV kink 1.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 19.63 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No earnings detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +4% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 62 (ITM 20% + inst 32%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.8
bullishIV cheap, mixed flow
Long Puts6.4
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV too cheap, mixed flow
Covered Call4.5
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.