TSM Options History — February 2025

In February 2025, TSM traded between $178.21 and $209.78. ATM implied volatility averaged 39.7%, placing in the 35.4% IV rank vs the trailing year. The 30-day expected move averaged 11.5%. IV traded below realized volatility by 19.8% (HV 20d: 59.5%). Max pain ranged from $195.00 to $200.00. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 3 of 19 days. Put/call ratio averaged 0.83.

Notable Days

  • 2025-02-14: Highest Volume — 346,557 contracts
  • 2025-02-04: Largest IV drop — 7.8% change
  • 2025-02-03: Highest IV Rank — 58.8%
  • 2025-02-03: Largest Expected Move — 13.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$199.77$178.21$209.78$200.87$178.21
Max Pain$199.21$195.00$200.00$195.00$200.00
ATM IV39.7%36.3%45.2%45.2%42.6%
Expected Move11.5%10.4%13.0%13.0%12.9%
HV 20d59.5%28.9%73.0%73.0%35.8%
HV 60d50.0%49.4%51.7%50.6%51.6%
IV Rank35.4%21.6%58.8%58.8%43.5%
IV Percentile47.4%29.0%84.9%84.9%67.9%
Term Structure-0.4%-0.9%0.5%-0.8%-0.9%
VWIV40.5%37.1%46.0%46.0%44.8%
Skew 25d3.3%1.6%5.4%4.1%5.0%
Skew 10d8.0%4.2%12.1%10.0%11.3%
Call IV 25d38.4%35.4%43.1%43.1%41.2%
Put IV 25d41.6%37.4%47.2%47.2%46.1%
Bid-Ask Spread %10.274.0217.378.658.86
Gamma HHI0.070.060.090.060.07
Net GEX37.1M-87.5M130.2M58.8M-82.1M
Net DEX-2.14B-4.61B2.30B-2.44B2.30B
Net VEX-32.6M-33.8M-31.0M-33.6M-33.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.391.561.561.07
Total Volume167,061.26362,387346,557176,601315,791
Total OI1,541,236.1581,320,0221,648,2691,457,4001,556,266

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-02-03$200.87$195.0045.2%13.0%73.0%58.8%46.0%4.1%-0.8%58.8M-2.44B-33.6M1.568.6568,946107,655674,695782,705
2025-02-04$204.74$195.0041.7%11.7%71.9%48.3%41.7%3.5%-0.6%70.9M-3.25B-33.5M0.7317.3744,10232,183691,477834,852
2025-02-05$207.98$195.0040.2%11.3%69.3%43.4%39.4%3.0%-0.1%93.0M-4.09B-33.1M0.6614.3571,48147,122701,701848,535
2025-02-06$209.78$200.0039.4%11.3%68.1%38.6%39.5%2.9%-0.3%111.5M-4.61B-32.3M0.7915.5849,78239,522714,759864,762
2025-02-07$206.53$200.0040.9%11.5%67.8%43.4%41.5%4.1%-0.5%45.6M-3.73B-33.2M1.4710.99107,885158,154726,328881,837
2025-02-10$206.89$200.0038.6%11.1%67.8%32.1%38.7%3.1%-0.0%43.0M-3.36B-33.1M0.7916.7965,40451,454646,250908,162
2025-02-11$209.58$200.0037.6%10.9%66.5%26.2%38.7%3.0%0.2%101.5M-4.24B-32.8M1.1211.2829,41932,968659,461928,355
2025-02-12$206.16$200.0037.4%10.7%66.9%25.4%38.2%3.0%-0.2%69.9M-3.35B-32.4M0.698.7443,58629,973665,143938,390
2025-02-13$201.71$200.0038.0%11.0%66.7%27.6%38.6%2.8%0.3%-13.7M-2.16B-32.0M0.6910.68122,41884,897669,925946,578
2025-02-14$203.84$200.0038.5%11.1%64.5%29.3%39.0%1.6%0.5%80.6M-3.02B-33.1M0.5415.63225,212121,345700,411947,858
2025-02-18$202.44$200.0038.9%11.2%64.2%30.7%39.6%2.0%-0.5%130.2M-2.90B-32.4M0.574.0277,84944,737706,668848,409
2025-02-19$200.88$200.0036.8%10.6%62.5%23.5%37.7%1.9%-0.3%99.1M-2.43B-31.4M0.6711.2851,72434,898711,068864,403
2025-02-20$200.04$200.0036.3%10.4%62.0%21.6%37.1%1.9%-0.3%74.2M-2.26B-31.0M0.8711.0363,62355,478713,631879,508
2025-02-21$197.64$200.0037.9%10.9%62.0%27.2%38.9%3.5%-0.9%-46.2M-1.72B-31.6M0.897.1575,82267,250725,223883,458
2025-02-24$192.51$200.0039.6%11.7%62.3%33.3%40.4%3.3%-0.8%-41.7M-238.2M-31.5M0.505.83120,11560,025554,813765,209
2025-02-25$188.81$200.0040.8%12.1%33.5%37.2%42.4%3.8%-0.9%-37.2M281.2M-32.6M0.924.94101,48693,599608,480783,681
2025-02-26$194.78$200.0040.7%12.2%28.9%36.9%42.6%4.0%-0.8%36.0M-1.19B-33.7M0.397.36135,56952,500641,503813,961
2025-02-27$182.25$200.0043.4%13.0%36.7%46.1%44.8%5.4%-0.9%-87.5M1.69B-32.8M0.934.57150,426139,764667,797827,225
2025-02-28$178.21$200.0042.6%12.9%35.8%43.5%44.8%5.0%-0.9%-82.1M2.30B-33.8M1.078.86152,323163,468699,808856,458