TSM posted a year-over-year sales jump
Asia-based chip maker Taiwan Semiconductor Manufacturing Co Ltd. (NYSE:TSM) is surging today, up 2.5% to trade at $212.17 at last glance. TSM is climbing on the back of upbeat net revenue for May. Though numbers were 8.3% lower than April, year over year the equity is enjoying a nearly 40% increase.
The equity is eyeing its seventh-straight gain and longest daily win streak since December 2023. TSM is also now trading at its highest level since late January and sports a year-to-date gain of 7.5%, now significantly above its April bottom of $134.25.
Call options are trading at nearly twice the average rate, with 36,000 contracts initiated so far. Most active is the weekly 6/13 212.50-strike call, which is being sold to open, with the 215-strike call from the same series trailing closely behind.
Options are looking affordable, too. This is per Taiwan Semiconductor Manufacturing stock's Schaeffer’s Volatility Index (SVI) of 32%, which sits in the 2nd percentile of its annual range.