When trading at 17.18, a customer bought just over 6300 TSM Jan 17.5 puts paying 0.65 per contract.? This appears to be a short play on the name heading into earnings on January 16.? This trade will give the trader short exposure to the name through earnings.
This should be viewed as aggressively bearish TSM and long volatility.? This volume is the equivalent of what TSM trades on an average day so it is not a small trade.
The IV on the line is still not out of hand,? traders looking to piggy back might consider simply tailing this trader into the trade.?