More Weakness To Come For Taiwan Semiconductor Ahead Of Results

Taiwan Semiconductor Mfg. Co. Ltd. TSM is scheduled to report its quarterly results before the opening bell on Thursday.

On CNBC's "Options Action," Michael Khouw of Optimize Advisors said Taiwan Semiconductor traded 1.5 times its average on Tuesday. The traders represent a move of around 5% in the stock, higher than the average of 1.5% over the last eight quarters, he added.

Check out other stocks making big moves in the premarket.

There were buyers of 7,489 of the July 77 puts at an average price of 96 cents per contract, Khouw mentioned. Traders are betting that Taiwan Semiconductor’s stock will declined by at least 4% by Friday.

TSM Price Action: Shares of Taiwan Semiconductor have lost around 39% year to date. On Wednesday, July 13, the stock price opened at $79.40 per share and reached $81.49 by 11:10 a.m. EST.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: Short IdeasOptionsMarketsMediaTrading IdeasCNBCMichael KhouwOptimize Advisors
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!