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TSM

Taiwan Semiconductor ManufacturClose $392.61EOD only

Max Pain

$400.00

Next expiry May 22, 2026

Expected Move

±$15.53

4.0% from close

Price Gap

+7.39

Distance to max pain

IV Rank

Low premium

P/C OI

1.41

Slightly put-heavy

Consensus

7.5/10

Bullish tilt

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects TSM options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

TSM Flow Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.6% from MP

Watch next session: $340C OI buildup (8,996 OI); Put flow at $330 (17,023 OI)

Flow Summary

Net premium: +$35.2M bullish

P/C volume ratio: 0.76 — moderate call dominance

P/C OI ratio: 1.29 — put-skewed positioning

Strong bullish premium flow ($35.2M net) despite put-heavy OI, indicating fresh call buying and hedging against existing put positions. Flow regime is Bullish with GEX pinning.

Notable Prints

TSM 2026-04-24 $340 Call

Vol: 7,630

OI: 571

Vol/OI: 13.4x

IV: 49.9%

Notional: ~$1.19M (7630 * $15.55 * 100)

Intent: Fresh directional call buying

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: Large volume relative to OI at near-ATM strike, consistent with bullish flow regime

TSM 2026-04-10 $375 Call

Vol: 2,240

OI: 904

Vol/OI: 2.5x

IV: 43.8%

Notional: ~$29,120 (2240 * $0.13 * 100)

Intent: Lottery ticket OTM call buying

Dual read: Bought (speculative bullish) or sold (premium collection)

Read-through: Low-cost OTM speculation, but notional small; more noise than signal

TSM 2026-07-17 $430 Call

Vol: 878

OI: 381

Vol/OI: 2.3x

IV: 44.9%

Notional: ~$649,720 (878 * $7.40 * 100)

Intent: Long-dated OTM call buying

Dual read: Bought (strategic bullish) or sold (covered call)

Read-through: Meaningful notional at far OTM strike; could be part of a spread or volatility play

TSM 2026-04-10 $220 Put

Vol: 478

OI: 205

Vol/OI: 2.3x

IV: 164.8%

Notional: ~$3,824 (478 * $0.08 * 100)

Intent: Far OTM put speculation or hedging

Dual read: Bought (tail risk hedge) or sold (premium collection)

Read-through: Extremely high IV suggests speculative or hedging activity, but notional trivial

Institutional Positioning

Call additions: $340-$360 calls in near-term expirations, evidenced by premium flow dominance

Put additions: Large OI at $330 (17,023) and $340 (14,389) puts, likely existing hedges

GEX/DEX consistency: Yes — positive GEX ($15.1M) aligns with bullish flow and pinning regime

OI clusters: $330 put wall (17,023 OI), $340 call cluster (8,996 OI), $350 call cluster (10,051 OI)

Hedging evidence: Significant put OI at $330 and $340 suggests institutional hedging, but flow is call-dominated

Max pain context: MP at $340 (2026-04-17), spot at $341.76 slightly above; pinning likely

Signal vs Noise

~$375C 2026-04-10 volume is high but notional small (~$29K), likely retail speculation

~$220P and $230P prints have extreme IV (>140%) and tiny notional, more noise than directional

~Far OTM calls ($430C) could be part of vertical spreads or volatility plays, not pure directional bets

Key Conclusions

🐂Net premium +$35.2M strongly bullish, flow regime Bullish

📌GEX +$15.1M and pinning regime suggest spot gravitating toward $340-$350

🛡️Large put OI at $330 (17,023) acts as a floor, with gamma flip ~$330

How to Use These Reports

This flow reflects the market close on April 6, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.