TSMC (TSM) announced record earnings and raised their outlook because of the AI megatrend.

Taiwan Semiconductor's Q3 results significantly surpassed expectations, with top-line revenue beating by nearly 5% and net income by 12.3%.

TSM raised its FY2025 revenue growth guidance to the mid-30% range, with Q4 projections also exceeding consensus, suggesting continued strong demand from the AI megatrend.

THE AI MEGATREND!

I cannot help but roll my eyes at the phrase.

Having a long history with semiconductors, I immediately thought about the classic logo in your PC BIOS:

The AI trade is all over the map today nonetheless with some big spikes at the open which allowed me to close some profitable positions and sell new covered calls.

I also spotted a short put opportunity with Shopify (SHOP). Normally I tend to avoid momentum trades with SHOP due to lower options volume but the volume was healthy this morning allowing the opening and closing of those positions.

My positions are in good shape heading into tomorrow such that I might tune out completely and let things ride. If my CoreWeave (CRWV) covered calls, which are in the money, get exercised then I can de-risk some capital away from CRWV. If they don't get exercised, I think I will be in a good position to either re-sell covered calls next week or offload either way.

Ideally Friday trades sideways, but you never know with the headline risk these days.

Speaking of, is the US Federal government still shut down?

I'm sure it's fine.

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