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Options/TSMY
T

TSMYYieldMax TSM Option Income Strategy ETF

Options Analysis Report
Market Cap: --|ARCX
● 2026-08-31$15.00
VERY BEARISH
Analysis: 2026-08-28 EOD data
1Y -0.7%YTD -6.1%7D +0.3%
50
30D
±7.2%
9%

TSMY Options Overview

IV is elevated with bearish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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TSMY Gamma Walls

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Value

Is IV priced right?

5.4
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 71.5% — elevated vs history

<1.05x

IV/HV 2.49x — IV premium over HV

Sector Relative≤50%

Sector percentile 84% — above sector median

<1.1x

Front/Back 0.41x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 46.0% — normal range

<80%

Effective IV 48.8% (ATM 46.0% + spread 1.4% + bias) — excellent value

<3.0%

Total drag 1.42% (spread 1.42% + slippage 0.00%) — minimal drag

≥5.0

Vega efficiency 10.09 (vega 1.432 / spread 1.42%) — efficient

Sentiment

Bullish or bearish?

3.4
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBalanced - Moderate signal (P/C: 1.00)
<0.65 or >1.55

P/C 1.00 — balanced (buy/sell unknown)

≥15%

|OI skew| 13.6% — balanced

Same sign, |vol skew| ≥10%

Vol skew -100.0%, OI skew -13.6% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +0%, OTM: +0% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 27% — very bullish vs sector

Activity

Unusual activity?

5.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed
≥1.5x

Volume 2.5x avg — hot

≥15%

Vol/OI 8.2% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +22.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 80% — very active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 0% — patient

≥30

Conviction +0 (neutral) — mixed

Liquidity

Can I trade efficiently?

4.9
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed
≤5.0%

Spread 1.4% — tight

≥10,000

OI 611 — thin

≥500

Volume 50/day — thin

≤$0.50

$0.07 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 88% — much wider than sector

≥100 contracts

Depth 0 contracts (bid:0 ask:0) — thin

<1.0%

Avg slippage 0.00% — excellent

Timing

Is now a good time?

6.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks6/9 checks passed
|slope| ≥5%

Slope -58.7% — contango

<30 or >70

IV percentile 72% — seller opportunity

≥10pts kink

IV kink -22.4pts — no clear event

<0.5 or >2.0

θ/ν ratio 154.02 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +0% @ 50% consistency — unclear

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls4.8
bullishIV fair, bearish flow
Long Puts6.5
bearishIV fair, bearish flow
Premium Sellers
Cash-Secured Put4.5
bullishIV fair, bearish flow
Covered Call5.6
bearishIV fair, bearish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on TSMY

TSMY gamma wallsTSMY max painTSMY IV rankTSMY options flow