TSM Options History — August 2025

In August 2025, TSM traded between $227.64 and $243.41. ATM implied volatility averaged 32.0%, placing in the 5.2% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded above realized volatility by 2.2% (HV 20d: 29.8%). Max pain ranged from $195.00 to $220.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 14 of 21 days. Put/call ratio averaged 0.94.

Notable Days

2025-08-29: Highest Volume — 247,843 contracts
2025-08-04: Largest IV drop — 7.7% change
2025-08-01: Highest IV Rank — 11.8%
2025-08-01: Largest Expected Move — 9.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$236.87	$227.64	$243.41	$234.60	$231.11
Max Pain	$204.05	$195.00	$220.00	$195.00	$220.00
ATM IV	32.0%	29.2%	34.9%	34.9%	30.8%
Expected Move	9.2%	8.4%	9.9%	9.9%	8.7%
HV 20d	29.8%	26.3%	33.8%	31.5%	28.9%
HV 60d	28.7%	28.1%	29.5%	29.0%	29.1%
IV Rank	5.2%	0.0%	11.8%	11.8%	3.6%
IV Percentile	7.9%	0.0%	19.4%	18.3%	2.0%
Term Structure	0.0%	-1.1%	0.9%	-0.6%	0.5%
VWIV	33.1%	30.0%	35.7%	35.2%	30.0%
Skew 25d	3.4%	2.5%	5.6%	4.4%	3.8%
Skew 10d	8.0%	5.4%	13.4%	10.4%	9.1%
Call IV 25d	31.0%	28.4%	33.9%	33.9%	29.2%
Put IV 25d	34.3%	31.3%	38.3%	38.3%	32.9%
Bid-Ask Spread %	5.81	2.95	21.80	4.38	9.47
Gamma HHI	0.07	0.05	0.16	0.14	0.16
Net GEX	35.9M	-137.0M	157.7M	-56.3M	-137.0M
Net DEX	-6.69B	-9.18B	-3.17B	-6.65B	-4.32B
Net VEX	-39.2M	-41.7M	-36.6M	-39.8M	-38.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.94	0.34	2.07	0.96	0.34
Total Volume	105,211.381	48,699	247,843	151,294	247,843
Total OI	1,757,190.333	1,619,253	1,871,733	1,769,442	1,785,559

Daily Data (21 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
2025-08-01	$234.60	$195.00	34.9%	9.9%	31.5%	11.8%	35.2%	4.4%	-0.6%	-56.3M	-6.65B	-39.8M	0.96	4.38	77,268	74,026	728,260	1,041,182
2025-08-04	$238.08	$195.00	32.2%	9.4%	29.8%	5.7%	35.7%	3.8%	0.1%	75.7M	-7.60B	-40.0M	0.97	6.52	32,626	31,545	707,975	1,012,556
2025-08-05	$233.21	$195.00	33.4%	9.9%	30.9%	8.3%	35.4%	4.2%	0.2%	42.1M	-6.45B	-40.5M	1.43	5.25	49,616	70,763	715,602	1,018,466
2025-08-06	$231.74	$200.00	33.5%	9.7%	30.3%	8.5%	35.1%	3.1%	0.0%	24.6M	-6.16B	-41.0M	0.69	4.00	47,389	32,528	729,989	1,052,039
2025-08-07	$242.12	$200.00	33.5%	9.7%	33.7%	8.5%	35.3%	2.8%	0.1%	157.7M	-9.04B	-38.4M	0.59	4.92	121,398	71,850	743,639	1,061,365
2025-08-08	$241.00	$200.00	31.6%	9.3%	33.8%	4.3%	33.8%	2.6%	0.4%	135.7M	-8.67B	-37.9M	0.63	5.15	83,107	52,682	752,822	1,071,989
2025-08-11	$242.84	$200.00	31.7%	9.4%	33.8%	4.5%	32.9%	2.5%	0.9%	121.1M	-9.00B	-38.1M	0.51	6.58	52,588	26,697	728,451	1,054,478
2025-08-12	$243.41	$200.00	29.9%	8.9%	31.5%	0.3%	31.3%	2.5%	0.9%	133.9M	-9.18B	-36.6M	0.74	4.16	28,008	20,691	746,475	1,065,278
2025-08-13	$240.91	$200.00	30.8%	8.9%	31.8%	2.3%	32.2%	2.6%	0.4%	102.8M	-8.47B	-37.6M	0.93	5.63	36,613	34,152	751,497	1,071,816
2025-08-14	$240.28	$200.00	31.4%	9.0%	28.2%	3.8%	32.6%	2.6%	0.0%	68.1M	-8.19B	-38.2M	1.00	12.63	44,225	44,085	758,412	1,085,107
2025-08-15	$239.28	$200.00	31.2%	9.0%	26.3%	3.4%	32.2%	2.8%	0.4%	25.6M	-7.83B	-39.0M	1.11	4.24	50,216	55,758	771,006	1,100,727
2025-08-18	$240.76	$200.00	31.1%	8.9%	26.4%	3.1%	31.9%	3.0%	-0.3%	59.2M	-6.90B	-38.3M	1.16	2.95	27,225	31,634	654,154	965,099
2025-08-19	$234.12	$200.00	32.6%	9.4%	27.5%	6.7%	32.9%	4.2%	-0.4%	-13.0M	-5.17B	-39.6M	2.07	21.80	40,309	83,390	665,247	978,374
2025-08-20	$227.64	$210.00	33.0%	9.5%	28.5%	7.5%	33.4%	5.6%	-0.9%	-70.5M	-3.17B	-40.7M	1.01	4.00	80,740	81,692	675,117	1,015,451
2025-08-21	$227.64	$210.00	33.8%	9.7%	28.1%	9.3%	34.2%	5.3%	-1.1%	-60.6M	-3.34B	-41.7M	1.64	3.01	28,858	47,461	691,241	1,035,134
2025-08-22	$233.26	$210.00	31.6%	9.1%	28.7%	4.2%	32.5%	3.4%	-0.5%	-57.4M	-4.96B	-41.0M	0.93	3.39	52,245	48,762	697,089	1,044,136
2025-08-25	$236.34	$210.00	31.7%	9.1%	28.8%	4.4%	32.7%	2.9%	0.3%	16.4M	-5.79B	-39.5M	0.60	3.03	40,286	24,202	674,521	1,022,937
2025-08-26	$238.10	$210.00	31.7%	9.2%	29.0%	4.5%	33.7%	2.6%	-0.1%	35.2M	-6.24B	-39.9M	0.65	3.71	40,873	26,709	686,918	1,029,515
2025-08-27	$239.19	$210.00	31.4%	9.1%	29.0%	3.9%	32.4%	3.2%	0.0%	59.5M	-6.75B	-38.5M	0.81	4.13	51,605	41,589	699,562	1,038,322
2025-08-28	$238.69	$220.00	29.2%	8.4%	29.0%	0.0%	30.0%	2.9%	0.3%	91.0M	-6.63B	-38.2M	0.91	3.04	39,827	36,358	710,878	1,062,612
2025-08-29	$231.11	$220.00	30.8%	8.7%	28.9%	3.6%	30.0%	3.8%	0.5%	-137.0M	-4.32B	-38.2M	0.34	9.47	184,310	63,533	716,587	1,068,972