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TSM

Taiwan Semiconductor ManufacturClose $467.67EOD only

Max Pain

$440.00

Next expiry Jun 26, 2026

Expected Move

±$21.30

4.5% from close

Price Gap

-27.67

Distance to max pain

IV Rank

Low premium

P/C OI

1.36

Slightly put-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 22, 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

Jun 22, 2026 close

TSM Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +0.5 spot 1.9% from MP; +0.5 VIX 19

Watch next session: TSM 2026-07-02 $375.00 Put; TSM 2026-06-26 $442.50 Call

Flow Summary

Net premium: +$61.6M bullish

P/C volume ratio: 1.10

P/C OI ratio: 1.36

Mixed flow overall. Despite positive net premium and dealer delta, put/call ratios are elevated and GEX negative. A dominant unusual put print at $375 with extremely high volume signals bearish positioning. Spot trading below max pain. High VIX adds caution. Bears have the upper hand near term.

Notable Prints

TSM 2026-07-02 $375.00 Put

Vol: 15,248

OI: 389

Vol/OI: 39.2x

IV: 59.5%

Notional: ~$2.0M

Intent: Bearish put open

Read-through: Anticipates drop to $375

TSM 2026-06-26 $442.50 Call

Vol: 661

OI: 110

Vol/OI: 6.0x

IV: 54.3%

Notional: ~$453K

Intent: Bullish bet on bounce

Read-through: Expects short-term recovery

TSM 2026-06-26 $417.50 Put

Vol: 503

OI: 137

Vol/OI: 3.7x

IV: 52.2%

Notional: ~$127K

Intent: Bearish put open

Read-through: Expects decline to $417.50

TSM 2026-07-17 $600.00 Call

Vol: 5,168

OI: 1,433

Vol/OI: 3.6x

IV: 61.1%

Notional: ~$362K

Intent: Speculative upside lottery

Read-through: Long shot bullish bet

TSM 2026-07-02 $500.00 Call

Vol: 7,108

OI: 2,512

Vol/OI: 2.8x

IV: 53.9%

Notional: ~$746K

Intent: Speculative call open

Read-through: Expects rally above $500

Institutional Positioning

Call additions: Modest call buys at $500, $600, $570, and weekly $442.5/$422.5

Put additions: Heavy $375 put (15k vol), plus $427.5 and $365 puts

GEX/DEX consistency: GEX negative (-$2.2M) vs DEX positive (+46.5M) signals dealer hedging but mixed flow

OI clusters: $500 call (2.5k OI), $375 put (high vol, low OI) concentration

Hedging evidence: $375 put likely hedge for long equity; $427.5 put suggests collar

Max pain context: Spot below MP, pin action toward gamma flip at $350

Signal vs Noise

~Signal: $375 put vol/oi 39.2 signals aggressive downside hedge.

~Noise: moderate vol/oi ratios (2-3) are routine retail flow.

Key Conclusions

🛡️Large $375 put addition indicates institutional hedging amid broad tech weakness.

⚖️Net premium positive but put/call volume >1 shows cautious positioning; dealers short gamma.

How to Use These Reports

This flow reflects the market close on June 23, 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.