TSM Options History — July 2025

In July 2025, TSM traded between $224.85 and $247.33. ATM implied volatility averaged 34.5%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded above realized volatility by 4.0% (HV 20d: 30.4%). Max pain ranged from $180.00 to $200.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 5 of 22 days. Put/call ratio averaged 0.78.

Notable Days

2025-07-17: Highest Volume — 346,487 contracts
2025-07-17: Largest IV drop — 12.7% change
2025-07-07: Highest IV Rank — 18.9%
2025-07-02: Largest Expected Move — 11.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$236.56	$224.85	$247.33	$224.85	$242.45
Max Pain	$187.27	$180.00	$200.00	$195.00	$195.00
ATM IV	34.5%	29.7%	39.5%	37.2%	33.0%
Expected Move	9.9%	8.6%	11.4%	11.2%	9.3%
HV 20d	30.4%	25.3%	34.5%	25.3%	29.2%
HV 60d	33.2%	28.5%	46.2%	46.2%	28.5%
IV Rank	8.2%	0.0%	18.9%	13.5%	7.4%
IV Percentile	15.9%	0.0%	42.1%	25.4%	12.7%
Term Structure	-0.4%	-1.3%	1.0%	-0.4%	-0.8%
VWIV	35.4%	30.9%	41.3%	39.9%	33.4%
Skew 25d	1.9%	0.6%	2.8%	2.5%	2.8%
Skew 10d	5.2%	2.0%	7.2%	7.2%	7.2%
Call IV 25d	34.2%	29.0%	39.1%	36.6%	32.2%
Put IV 25d	36.1%	31.1%	41.5%	39.1%	35.0%
Bid-Ask Spread %	4.50	3.47	6.26	3.56	3.93
Gamma HHI	0.08	0.06	0.23	0.08	0.06
Net GEX	151.8M	90.1M	245.1M	131.1M	90.1M
Net DEX	-9.40B	-12.67B	-8.06B	-8.32B	-8.82B
Net VEX	-36.8M	-39.2M	-31.4M	-39.0M	-38.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.78	0.22	1.67	1.03	1.18
Total Volume	127,802.273	63,015	346,487	74,793	111,149
Total OI	1,717,004.955	1,585,660	1,889,950	1,681,746	1,720,914

Daily Data (22 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-07-01	$224.85	$195.00	37.2%	11.2%	25.3%	13.5%	39.9%	2.5%	-0.4%	131.1M	-8.32B	-39.0M	1.03	3.56	36,798	37,995	708,691	973,055
2025-07-02	$233.15	$200.00	37.6%	11.4%	27.2%	14.5%	41.3%	1.4%	-0.7%	174.2M	-10.28B	-35.9M	0.80	3.53	83,348	66,436	714,492	979,485
2025-07-03	$235.44	$180.00	37.9%	10.5%	26.3%	15.2%	37.7%	1.2%	-0.9%	227.9M	-10.56B	-36.9M	0.58	5.44	87,768	50,713	727,580	992,736
2025-07-07	$228.44	$180.00	39.5%	11.0%	29.5%	18.9%	40.1%	2.4%	-0.8%	124.8M	-8.70B	-38.9M	0.71	5.99	77,784	55,549	715,563	964,777
2025-07-08	$228.34	$180.00	38.5%	10.7%	29.6%	16.6%	38.6%	2.1%	-0.9%	130.5M	-8.36B	-39.2M	0.89	5.84	33,402	29,613	723,632	986,052
2025-07-09	$232.54	$180.00	38.1%	10.7%	29.9%	15.7%	38.2%	1.6%	-0.8%	170.5M	-9.33B	-37.8M	0.59	6.26	48,464	28,585	728,345	995,471
2025-07-10	$229.94	$180.00	36.8%	10.3%	29.5%	12.5%	36.1%	1.9%	-1.1%	141.6M	-8.95B	-35.6M	0.45	4.58	79,313	35,890	734,859	1,007,466
2025-07-11	$230.37	$180.00	36.6%	10.3%	29.5%	12.0%	36.7%	1.9%	-1.2%	129.4M	-8.71B	-38.4M	0.78	4.34	49,419	38,593	737,298	1,016,917
2025-07-14	$229.12	$180.00	36.4%	10.3%	29.6%	11.6%	37.2%	1.6%	-0.7%	121.8M	-8.47B	-36.3M	1.67	4.44	37,702	63,126	708,749	994,603
2025-07-15	$237.40	$185.00	37.5%	10.7%	30.5%	14.3%	38.3%	0.7%	-0.8%	143.9M	-10.12B	-36.3M	0.80	4.27	79,397	63,470	721,626	1,030,613
2025-07-16	$237.69	$185.00	36.8%	10.6%	30.1%	12.5%	37.7%	0.6%	-1.3%	149.3M	-10.31B	-34.8M	0.96	5.19	91,548	88,017	735,693	1,052,212
2025-07-17	$247.33	$185.00	32.1%	9.2%	32.2%	1.5%	33.1%	1.5%	-0.0%	245.1M	-12.67B	-31.4M	0.47	3.63	235,685	110,802	766,914	1,082,456
2025-07-18	$240.34	$185.00	31.9%	9.2%	34.5%	0.8%	32.8%	2.3%	-0.3%	223.1M	-10.66B	-34.7M	0.63	3.47	105,669	67,013	786,267	1,103,683
2025-07-21	$239.36	$185.00	31.4%	9.1%	33.2%	0.0%	32.2%	2.1%	1.0%	115.9M	-8.66B	-35.5M	0.22	4.39	174,153	37,475	661,244	924,416
2025-07-22	$235.08	$190.00	31.2%	9.2%	34.3%	0.0%	33.3%	2.3%	0.3%	110.1M	-8.06B	-38.5M	0.97	3.83	59,082	57,188	706,981	940,850
2025-07-23	$239.02	$190.00	30.9%	9.1%	31.1%	0.0%	32.8%	1.9%	0.7%	148.2M	-8.82B	-38.9M	0.84	3.79	39,947	33,548	721,266	967,535
2025-07-24	$241.22	$190.00	30.1%	8.8%	31.1%	0.0%	31.0%	1.8%	0.7%	194.6M	-9.53B	-36.1M	0.62	4.05	50,252	31,265	731,333	973,384
2025-07-25	$245.89	$190.00	29.7%	8.6%	31.5%	0.0%	30.9%	2.0%	0.7%	223.2M	-10.43B	-37.1M	0.78	4.59	66,716	52,223	728,979	982,480
2025-07-28	$242.08	$195.00	30.8%	8.7%	31.9%	2.5%	31.2%	1.8%	-0.2%	118.5M	-9.10B	-36.5M	0.32	4.20	142,354	45,887	690,076	960,711
2025-07-29	$241.66	$195.00	32.3%	9.2%	31.8%	5.8%	33.2%	2.5%	-0.4%	109.2M	-8.85B	-37.4M	0.64	5.18	38,576	24,604	701,654	979,173
2025-07-30	$242.56	$195.00	32.0%	9.2%	31.6%	5.1%	32.6%	2.0%	-0.4%	117.7M	-9.02B	-36.8M	1.17	4.58	30,059	35,073	704,822	989,056
2025-07-31	$242.45	$195.00	33.0%	9.3%	29.2%	7.4%	33.4%	2.8%	-0.8%	90.1M	-8.82B	-38.1M	1.18	3.93	51,083	60,066	711,786	1,009,128