$TME 20261120 10.0 CALL$ Yes—TME options look relatively expensive into earnings, though not irrationally so. Your IV/HV inputs imply a 1.53× ratio: implied volatility is 52.7% above the 33.8 historical-volatility measure. The latest chain snapshot is even richer, with 30-day IV at 53.44% , an IV/HV ratio of 1.77× , and an IV percentile of 74.1% as of 2026-11-07. That means current IV is higher than roughly three-quarters of its recent observations.
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, this is a clear earnings-risk premium: option buyers are paying for a larger-than-normal move and face meaningful post-results IV compression if the realized move is modest.
TME traded at US$9.585 on 2026-11-07. The option chain indicates an expected move of about US$1.34 , or 14.0% of spot, through the nearest listed monthly expiry, 2026-11-20 (America/New_York) .
That implied range is demanding but not unprecedented. In the two latest earnings reactions available, the first post-report close moved -11.9% in August 2026 and +11.9% in August 2025. So a roughly 14% priced move is above those examples, but close enough that a decisive earnings surprise could still validate it.
Positioning is more put-heavy than call-heavy: call/put ratio is 0.61 (equivalently, put/call 1.64 ). This may reflect downside hedging as well as bearish speculation, so it should not be read as a standalone directional signal.
Bottom line: options are expensive relative to TME’s recent realized volatility and their own history. Long premium would generally need an earnings-driven move that is larger than the market’s already-elevated implied range, or a volatility increase before the report, to overcome time decay and potential volatility compression. The main counterpoint is that TME has recently produced near-12% one-day post-earnings moves, so the premium is not clearly excessive in an absolute sense.
The earnings calendar returned historical releases but did not confirm a forthcoming report date, so the precise event timing should be verified before relying on a particular expiration.
Information is for reference only and does not constitute investment advice.| Side | Price | Filled | Realized P&L |
|---|
| Sell Open | 0.25 10Lot(s) | -4.00% Holding |
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