Earnings exploded! TSMC surged to a record high, with some call options soaring over 300%.

U.S. stocks opened sharply higher in early trading with $Taiwan Semiconductor(TSM.US) hitting a record high, lifting the entire semiconductor sector. Nvidia also reached a new all-time high, offsetting the negative impact from ASML.

TSMC's Q3 results exceeded expectations, with the outlook also surpassing forecasts:

• Revenue: Q3 net revenue reached NT$759.69 billion, up 39% YoY, exceeding the estimated NT$751.06 billion. For Q4, revenue is expected to be between $26.1 billion and $26.9 billion, compared to market expectations of $24.94 billion.
• Gross margin: Q3 gross margin reached 57.8%, up 4.6 percentage points QoQ, compared to expectations of 54.8%. For Q4, gross margin is expected to be between 57% and 59%, compared to market expectations of 54.7%.
• Capital expenditure: TSMC raised its full-year revenue forecast in the last earnings call and adjusted its capital expenditure plan for the year to $30 billion to $32 billion, up from the previous forecast of $28 billion to $32 billion.

In options trading, the highest volume was for the $210 call expiring tomorrow:

In large block trades, the $230 call expiring on November 15, 2024, saw a large buy order of 1,525 contracts: